Nordic American Offshore Ltd. (NYSE:NAO) shares dropped 4.6% on Tuesday . The stock traded as low as $4.15 and last traded at $4.16, with a volume of 62,596 shares changing hands. The stock had previously closed at $4.36.

Separately, Zacks Investment Research cut Nordic American Offshore from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 19th.

The company’s market capitalization is $93.58 million. The firm’s 50-day moving average is $4.46 and its 200 day moving average is $4.69.

Nordic American Offshore (NYSE:NAO) last released its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by $0.10. The firm earned $5.07 million during the quarter, compared to analyst estimates of $7.79 million. The business’s quarterly revenue was down 55.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) earnings per share. On average, equities analysts predict that Nordic American Offshore Ltd. will post ($1.39) EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders of record on Wednesday, August 17th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, August 15th. This represents a $0.20 annualized dividend and a dividend yield of 4.82%.

Nordic American Offshore Limited. (NOA) is an international company. The Company is engaged in acquiring and operating platform supply vessels (PSVs), and own and operate eight vessels and have two new buildings under construction. The Company owns and operates Platform Supply Vessels (PSV) in the North Sea.

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