Could Nordic American Tanker (NYSE:NAT) Skyrocket? The Stock Has Too Many Sellers

July 17, 2017 - By Migdalia James

 Could Nordic American Tanker (NYSE:NAT) Skyrocket? The Stock Has Too Many Sellers

The stock of Nordic American Tanker (NYSE:NAT) registered an increase of 2.58% in short interest. NAT’s total short interest was 17.81 million shares in July as published by FINRA. Its up 2.58% from 17.36 million shares, reported previously. With 1.17M shares average volume, it will take short sellers 15 days to cover their NAT’s short positions. The short interest to Nordic American Tanker’s float is 18.06%.

About 746,123 shares traded. Nordic American Tanker Ltd (NYSE:NAT) has declined 48.16% since July 17, 2016 and is downtrending. It has underperformed by 64.86% the S&P500.

Nordic American Tankers Limited is an international tanker company. The company has market cap of $621.33 million. The Firm owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage each. It currently has negative earnings. The Company’s Suezmaxes tankers can carry over one million barrels of oil.

Nordic American Tanker Ltd (NYSE:NAT) Ratings Coverage

Among 7 analysts covering Nordic American Tanker Shipping (NYSE:NAT), 1 have Buy rating, 2 Sell and 4 Hold. Therefore 14% are positive. Nordic American Tanker Shipping had 12 analyst reports since August 12, 2015 according to SRatingsIntel. Zacks downgraded the stock to “Hold” rating in Tuesday, September 22 report. The stock of Nordic American Tanker Ltd (NYSE:NAT) has “Buy” rating given on Wednesday, August 12 by Euro Pacific Capital. Maxim Group maintained it with “Sell” rating and $5 target in Monday, May 8 report. The firm has “Market Perform” rating by Wells Fargo given on Wednesday, November 16. The firm has “Sell” rating given on Monday, April 3 by Jefferies. Jefferies downgraded Nordic American Tanker Ltd (NYSE:NAT) on Tuesday, May 10 to “Underperform” rating. The stock has “Sell” rating by Maxim Group on Monday, April 24. The stock of Nordic American Tanker Ltd (NYSE:NAT) earned “Underperform” rating by Jefferies on Wednesday, July 27. Seaport Global reinitiated it with “Neutral” rating and $16 target in Wednesday, May 4 report.

More notable recent Nordic American Tanker Ltd (NYSE:NAT) news were published by: Seekingalpha.com which released: “Is Nordic American Tankers In Trouble?” on May 05, 2017, also Globenewswire.com with their article: “Nordic American Tankers Limited (NYSE:NAT) – Renewal and Filing of Shelf …” published on June 23, 2017, Reuters.com published: “BRIEF-Nordic American Tanker says ‍Turid Sørensen will be suggested as new …” on May 30, 2017. More interesting news about Nordic American Tanker Ltd (NYSE:NAT) were released by: Fool.com and their article: “If You Love DryShips Inc., You Should Check Out Nordic American Tankers Ltd.” published on June 28, 2017 as well as Fool.com‘s news article titled: “Why Nordic American Tanker Ltd Stock Is Floating 12% Higher Today” with publication date: November 10, 2016.

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