Nordic American Offshore Ltd. (NAO) Sees Strong Trading Volume
Shares of Nordic American Offshore Ltd. (NYSE:NAO) saw unusually-high trading volume on Thursday . Approximately 86,074 shares were traded during trading, an increase of 11% from the previous session’s volume of 77,796 shares.The stock last traded at $4.00 and had previously closed at $4.17.
Separately, Zacks Investment Research upgraded Nordic American Offshore from a “strong sell” rating to a “buy” rating and set a $4.75 target price on the stock in a research note on Thursday, July 28th.
The firm’s market cap is $89.97 million. The firm has a 50-day moving average price of $4.42 and a 200 day moving average price of $4.68.
Nordic American Offshore (NYSE:NAO) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.36) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.26) by $0.10. The firm had revenue of $5.07 million for the quarter, compared to the consensus estimate of $7.79 million. During the same period in the prior year, the company posted ($0.02) EPS. The company’s revenue for the quarter was down 55.0% compared to the same quarter last year. Analysts forecast that Nordic American Offshore Ltd. will post ($1.39) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders of record on Wednesday, August 17th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, August 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.01%.
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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