Nordic American Tankers

NAT · NYSE

$7.43−$0.09 (−1.20%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $7.52

NAT analyst rating

HoldConsensus of 3 analysts over the last 12 months. 33% rate it a buy.

Strong buy0
Buy1
Hold1
Underperform1
Sell0

12-month price target · 5 analysts

Average $7.11 (−4.4% downside)

Low: $5.05
Now: $7.43
High: $8.40

Upgrades and downgrades

The latest rating actions, newest first

NAT analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
B. Riley Securities	Oct 5, 2026	Maintains	Buy	$8.00 → $10.00	49%
B. Riley Securities	Aug 28, 2026	Maintains	Buy	$7.50 → $8.00	49%
Evercore ISI Group	Apr 22, 2026	Downgrade	In-Line → Underperform	$5.00 → $4.50	63%
Jefferies	Nov 28, 2025	Maintains	Hold	$3.50	72%
Evercore ISI Group	Oct 28, 2025	Maintains	In-Line	$2.50 → $3.00	63%

The case for and against

Updated Feb 9, 2026

Bull case

Nordic American Tankers Ltd has demonstrated a robust cash position, highlighted by a significant refinancing of its Beal Bank facility that increased cash reserves by nearly $80 million while minimizing debt repayment to $72 million. This liquidity has allowed the company to enhance its dividend payouts, raising it from $0.07 per share in the first quarter to $0.13 in the third quarter, despite reporting earnings losses, and enabling a total dividend of $0.17 in the first half of 2025 against an adjusted EPS loss. Furthermore, expectations of improved average time charter equivalent (TCE) rates as the company refines its fleet suggest potential for positive developments in its operating results within a competitive market driven by supply and demand dynamics.

Bear case

Nordic American Tankers Ltd has reported consistent financial struggles, culminating in an adjusted EPS loss of $0.01 for the third quarter, which fell short of expectations and marked the company's third consecutive quarter of negative earnings. The company's performance has been hindered by lower-than-anticipated revenues and a realized time charter equivalent (TCE) of $26,880 per day, which also did not meet expectations. Additionally, a significant decline in cash reserves, from $94.5 million to $67.6 million attributed to dividend payments, alongside a negative free cash flow of $5.5 million, further underscores the financial difficulties facing the company in a highly competitive market.

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