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TheStreet Wire

Nordic American Tankers Stock Gaps Down On Today's Open (NAT)

By TheStreet Wire 01/19/12 - 08:54 AM EST

Find out if (NAT) is in Cramer's Portfolio.

NEW YORK (TheStreet) -- Shares of Nordic American Tankers (NYSE:NAT) were gapping down Thursday morning with an open price 11% lower than Wednesday's closing price. The stock closed at $15.57 Wednesday and opened today's trading at $13.86.

The average volume for Nordic American Tankers has been 552,500 shares per day over the past 30 days. Nordic American Tankers has a market cap of $698.1 million and is part of the services sector and transportation industry. Shares are up 29.9% year to date as of the close of trading on Wednesday.

Nordic American Tankers Limited, an international tanker company, owns and operates double hull crude oil tankers. The company operates its vessels in the spot market. Its fleet consists of 19 double-hull Suezmax tankers, of which two are newbuildings.

TheStreet Ratings rates Nordic American Tankers as a sell. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself. You can view the full Nordic American Tankers Ratings Report.

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