Cleaves Securities Thinks Nordic American Tanker’s Stock is Going to Recover

By Carrie Williams

In a report issued on July 28, Joakim Hannisdahl from Cleaves Securities upgraded Nordic American Tanker (NATResearch Report) to Buy, with a price target of $3.10. The company’s shares closed last Tuesday at $2.53, close to its 52-week low of $2.46.

According to TipRanks.com, Hannisdahl is a 5-star analyst with an average return of 21.1% and a 59.6% success rate. Hannisdahl covers the Industrial Goods sector, focusing on stocks such as International Seaways, Eagle Bulk Shipping, and Star Bulk Carriers.

Nordic American Tanker has an analyst consensus of Moderate Buy, with a price target consensus of $3.78.

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Nordic American Tanker’s market cap is currently $394.8M and has a P/E ratio of -28.30. The company has a Price to Book ratio of 0.69.

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Nordic American Tankers Ltd. is an international tanker company, which engages in owning and operating of Suezmax crude oil tankers. The company was founded by Herbjørn Hansson on June 12, 1995 and is headquartered in Hamilton, Bermuda.