# Nordic American Tankers Limited (NAT)

> Source: Nexqual · https://nexqual.com/NAT · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Nordic American Tankers Limited (NAT), nexqual.com/NAT" · informational, not investment advice.

**Price:** USD 7.54 (-0.53% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 7.58 · day 7.41–7.68 · 52w 3.33–8.88 · market cap $1.60B · NYQ

## Key facts
- Analysts: Hold (mean 3.00 on a 1–5 scale) (2 analysts), mean target USD 7.5 (range 5–10).
- Total return with dividends: 1Y +137.3% vs S&P 500 +14.9%; 5Y +392.1% vs S&P 500 +80.3%.
- Next earnings: 2026-11-27, EPS estimate USD 0.1, revenue estimate $69.3M.

## Analysts
Consensus Hold (mean 3.00 on a 1–5 scale), 2 analysts; mean target USD 7.5 (low 5, high 10).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-05 | B. Riley Securities | Target raised | Buy | $8 → $10 |
| 2026-08-28 | B. Riley Securities | Target raised | Buy | $7.5 → $8 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +137.3% | +392.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +138.0% | +37.4% |
| Volatility (annualized) | 39.9% | 45.6% |
| Max drawdown | -18.4% (Apr 2026→May 2026) | -46.3% (Oct 2023→Mar 2025) |

## Peers (Oil & Gas Midstream)
PBT (Permian Basin Royalty Trust) USD 33.27 -1.04% · TEN (Tsakos Energy Navigation Ltd) USD 51.65 -1.39% · GLP (Global Partners LP) USD 48.53 -0.80% · FLNG (FLEX LNG Ltd.) USD 27.94 +0.04% · GEL (Genesis Energy, L.P.) USD 13.9 -0.93% · NVGS (Navigator Holdings Ltd.) USD 21.17 -0.94%

## More
Full page: https://nexqual.com/NAT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in NAT's own 20-F filed 2026-04-29 (https://www.sec.gov/Archives/edgar/data/1000177/000114036126017809/ef20071320_20f.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Riley Securities | "On February 14, 2025, we cancelled the equity distribution agreement with B.Riley Securities, Inc, dated February 14, 2022, under which the Company could, from time to time," |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.10 | $0.11 | -9.1% | $69.3M | 1 |
| Next quarter (ends 2026-12-31) | $0.14 | $0.14 | +3.7% | $76.2M | 1 |
| Current fiscal year (ends 2026-12-31) | $0.78 | $0.69 | +13.9% | $302.3M | 1 |
| Next fiscal year (ends 2027-12-31) | $0.46 | $0.29 | +54.2% | $280.0M | 2 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-12-18 (includes earnings 2026-11-27): ±18.2%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 55.0% | ±13.6% |
| 2026-12-18 | 56 | 50.6% | ±18.2% |
| 2027-01-15 | 84 | 52.0% | ±21.6% |
| 2027-04-16 | 175 | 49.8% | ±28.8% |