Shares of Nordic American Tankers Limited (NYSE:NAT) traded today at $3.54, eclipsing its 52-week high. So far today approximately 3.1 million shares have been exchanged, as compared to an average 30-day volume of 5.3 million shares.
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.
In the past 52 weeks, shares of Nordic American Tankers Limited have traded between a low of $1.40 and a high of $3.54 and is now at $3.52, which is 151% above that low price.
Potential upside of 8.3% exists for Nordic American Tankers Limited, based on a current level of $3.52 and analysts’ average consensus price target of $3.81.
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