Nordic American Tanker Shipping Down 6.78% To $3.99 After Earnings

Nordic American Tankers Ltd (NAT) missed earnings estimates for Q3 2023 this morning.

reported that it broke-even during the quarter.



The stock is down 6.78% to $3.99 after the report.

Nordic American Tanker Shipping's profit margins maintained as both earnings and revenue declined at the same pace.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Nordic American Tanker Shipping a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 67. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

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.