Nordic American Offshore (NAO) Sets New 12-Month Low at $0.43

Nordic American Offshore Ltd (NYSE:NAO)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $0.43 and last traded at $0.48, with a volume of 1500 shares trading hands. The stock had previously closed at $0.48.

Separately, ValuEngine upgraded shares of Nordic American Offshore from a “hold” rating to a “buy” rating in a research report on Friday, November 2nd.

The company has a debt-to-equity ratio of 0.60, a current ratio of 6.70 and a quick ratio of 6.11.

An institutional investor recently bought a new position in Nordic American Offshore stock. DNB Asset Management AS bought a new position in Nordic American Offshore Ltd (NYSE:NAO) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 8,016,510 shares of the shipping company’s stock, valued at approximately $7,776,000. DNB Asset Management AS owned about 12.93% of Nordic American Offshore at the end of the most recent quarter. Institutional investors own 31.11% of the company’s stock.

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Nordic American Offshore Company Profile (NYSE:NAO)

Nordic American Offshore Ltd. owns and operates platform supply vessels (PSVs). As of December 31, 2017, it had a fleet of 10 PSVs. The company operates its vessels in the United Kingdom and in the Norwegian sectors of the North Sea. Nordic American Offshore Ltd. was founded in 2013 and is based in Hamilton, Bermuda.

Further Reading: When is a capital gain realized?

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