Nordic American Tanker (NAT) was Downgraded to a Hold Rating at Cleaves Securities

By Ryan Adsit

In a report issued on October 14, Joakim Hannisdahl from Cleaves Securities downgraded Nordic American Tanker (NATResearch Report) to Hold, with a price target of $4.10. The company’s shares closed last Monday at $4.00.

According to TipRanks.com, Hannisdahl is a 4-star analyst with an average return of 28.0% and a 82.4% success rate. Hannisdahl covers the Services sector, focusing on stocks such as Golden Ocean Group Limited, Eagle Bulk Shipping Inc, and Diana Shipping Inc.

Currently, the analyst consensus on Nordic American Tanker is a Strong Buy with an average price target of $4.02.

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The company has a one-year high of $4.47 and a one-year low of $1.66. Currently, Nordic American Tanker has an average volume of 2.53M.

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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.