Vetr Upgrades, Urges Buy On Nordic American Tanker After Series Of Price Drops

The Vetr crowd on Tuesday upgraded its rating for Nordic American Tanker Ltd NAT from the stock's previous standing of 4 stars (Buy) issued three days ago, to 5 stars (Strong Buy). Crowd sentiment for Nordic American at the time of the upgrade was mostly positive, with 85 percent of Vetr user ratings bullish.

Despite a rough 2016 that saw the tanker company's share price drop by more than 45 percent, Nordic American seemed to find support at the $8 level through the first few months of 2017. However, the stock has experienced downward pressure that caused it to fall below $6. It ended trading on Tuesday at $5.65 in a downward trend.

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Currently, the Vetr crowd's average target price for Nordic American is up at $7.08, which is still below the average analyst target price of $9.42. Less than 2 percent of Vetr users are holding Nordic American in their watch-lists.