Shares of Nordic American Tankers Limited (NAT) Rise to a New 52-Week High

IBN Spotlights
Thursday, September 22, 2022 at 6:26pm UTC

Shares of Nordic American Tankers Limited (NYSE:NAT) traded today at $3.60, eclipsing its 52-week high. Approximately 3.9 million shares have changed hands today, as compared to an average 30-day volume of 5.4 million shares.

Over the past year, Nordic American Tankers Limited has traded in a range of $1.40 to $3.60 and is now at $3.30, 136% above that low.

Nordic American Tankers Ltd owns and operates double hull crude oil tankers. It is an international tanker company that owns double-hull Suezmax tankers. It operates vessels in the spot market or on spot market-related charters pursuant to cooperative arrangements with third parties. The company’s fleet consists of crude oil tankers, and all of its vessels are employed in the spot market. The company has only one type of vessel – Suezmax crude oil tankers. It operates in markets that are very competitive and based mainly on supply and demand.

Nordic American Tankers Limited (NYSE:NAT) has potential upside of 24.9% based on a current price of $3.30 and analysts’ consensus price target of $4.12.

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