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Nordic American Tanker Shipping Up 3.18% To $4.22 After Earnings

Monday, August 28, 2023 11:03 AM | InvestorsObserver Analysts

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Nordic American Tanker Shipping Up 3.18% To $4.22 After Earnings

Nordic American Tanker Ltd (NAT) missed earnings projections on 8/28/2023 for Q2 2023.

The stock is up 3.18% to $4.22 after the report.

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

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 68. 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.

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