Nordic American Tanker (NYSE:NAT)’s Trend Unknown, Especially After Increased Shorts

July 17, 2017 - By Winifred Garcia

 Nordic American Tanker (NYSE:NAT)’s Trend Unknown, Especially After Increased Shorts

The stock of Nordic American Tanker (NYSE:NAT) registered an increase of 2.58% in short interest. NAT’s total short interest was 17.81M 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. Jefferies downgraded the stock to “Underperform” rating in Tuesday, May 10 report. As per Wednesday, August 12, the company rating was upgraded by Euro Pacific Capital. Maxim Group maintained Nordic American Tanker Ltd (NYSE:NAT) on Monday, May 8 with “Sell” rating. Seaport Global reinitiated Nordic American Tanker Ltd (NYSE:NAT) rating on Wednesday, May 4. Seaport Global has “Neutral” rating and $16 target. The stock of Nordic American Tanker Ltd (NYSE:NAT) earned “Market Perform” rating by Wells Fargo on Wednesday, November 16. The firm earned “Sell” rating on Monday, April 24 by Maxim Group. The rating was downgraded by Zacks to “Hold” on Tuesday, September 22. The company was maintained on Wednesday, July 27 by Jefferies. Jefferies maintained the shares of NAT in report on Monday, April 3 with “Sell” rating.

More notable recent Nordic American Tanker Ltd (NYSE:NAT) news were published by: Seekingalpha.com which released: “Nordic American Tankers – New Year, Same Old Selective Disclosure By Herbjorn …” on May 10, 2017, also Nasdaq.com with their article: “Nordic American Tankers Limited (NAT) Ex-Dividend Date Scheduled for May 18, 2017” published on May 17, 2017, Seekingalpha.com published: “Is Nordic American Tankers In Trouble?” on May 05, 2017. More interesting news about Nordic American Tanker Ltd (NYSE:NAT) were released by: Seekingalpha.com and their article: “Nordic American Tankers Is Heading Into A Perfect Storm” published on August 15, 2016 as well as Reuters.com‘s news article titled: “BRIEF-Nordic American Tanker says ‍Turid Sørensen will be suggested as new …” with publication date: May 30, 2017.

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