Maxim Group Keeps Their Sell Rating on Nordic American Tanker

By Carrie Williams

In a report released today, James Jang from Maxim Group maintained a Sell rating on Nordic American Tanker (NYSE: NAT), with a price target of $3. The company’s shares closed on Friday at $4.98, close to its 52-week low of $4.41.

According to TipRanks.com, Jang is a 3-star analyst with an average return of 5.5% and a 63.0% success rate. Jang covers the Services sector, focusing on stocks such as Dynagas LNG Partners LP , Eagle Bulk Shipping, and Navigator Holdings.

Currently, the analyst consensus on Nordic American Tanker is Moderate Sell and the average price target is $3.50, representing a -29.7% downside.

In a report issued on October 19, Jefferies also reiterated a Sell rating on the stock with a $4 price target.

Based on Nordic American Tanker’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $39.1 million and GAAP net loss of $15.9 million. In comparison, last year the company earned revenue of $40.56 million and had a GAAP net loss of $7.57 million.

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Nordic American Tankers Ltd. is a tanker company. It owns and operates Suezmax crude oil tankers. The company was founded by Herbjørn Hansson on June 12, 1995 and is headquartered in Hamilton, Bermuda.