Wall Street analysts right now don’t like Nordic American Tanker. Of the 12 professionals covering the stock, five rate it a “hold” and seven say it’s a “buy.” Not one among them thinks that NAT’s worth buying.
Cramer, who during Monday’s Mad Money called Nordic American “a strong story,” finds this hard to believe. The company is cash rich, it’s expanding its fleet, and a Chinese ban on single-hull tankers puts this double-hull operator in a very advantageous position.
Not to mention, shipping rates have rebounded. Only one of NAT’s ships is locked into a long-term contract. So as long as the per diem fees continue upward, Cramer said, “the company will make more money than ever.”
Could Mad Money host be wrong? Who better to ask than Nordic American Tanker Chairman, CEO and President Herbjørn Hansson, described by Cramer as “the most knowledgeable man in this industry.” Watch the full interview right here and find out why Hansson thinks the fourth quarter should be “substantially higher.”
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