Seaport Global Remains a Hold on Nordic American Tanker

By Carrie Williams

In a report released yesterday, Magnus Fyhr from Seaport Global reiterated a Hold rating on Nordic American Tanker (NYSE: NAT), with a price target of $3. The company’s shares closed yesterday at $2.56, close to its 52-week low of $2.45.

According to TipRanks.com, Fyhr is a 3-star analyst with an average return of 12.1% and a 47.1% success rate. Fyhr covers the Services sector, focusing on stocks such as Ship Finance International, Golden Ocean Group Limited, and Eagle Bulk Shipping.

Nordic American Tanker has an analyst consensus of Moderate Sell, with a price target consensus of $2.67.

Based on Nordic American Tanker’s latest earnings report for the quarter ending September 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 $52.54 million and had a GAAP net loss of $1.83 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.