Nordic American Offshore Ltd. (NAO) Stake Increased by WealthTrust Axiom LLC
WealthTrust Axiom LLC raised its position in Nordic American Offshore Ltd. (NYSE:NAO) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 393,086 shares of the company’s stock after buying an additional 2,687 shares during the period. WealthTrust Axiom LLC’s holdings in Nordic American Offshore were worth $1,851,000 as of its most recent SEC filing.
Separately, Renaissance Technologies LLC boosted its stake in shares of Nordic American Offshore by 88.8% in the first quarter. Renaissance Technologies LLC now owns 218,300 shares of the company’s stock worth $978,000 after buying an additional 102,700 shares during the period. 15.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of Nordic American Offshore Ltd. (NYSE:NAO) traded down 2.12% during midday trading on Thursday, reaching $3.69. 156,784 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $4.08 and its 200 day moving average price is $4.63. Nordic American Offshore Ltd. has a 12-month low of $3.23 and a 12-month high of $7.49. The company’s market cap is $83.21 million.
Nordic American Offshore (NYSE:NAO) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by $0.10. Nordic American Offshore had a negative return on equity of 7.62% and a negative net margin of 86.40%. The firm had revenue of $5.07 million for the quarter, compared to analysts’ expectations of $7.79 million. During the same period in the prior year, the firm posted ($0.02) earnings per share. Nordic American Offshore’s revenue for the quarter was down 55.0% on a year-over-year basis. Equities analysts anticipate that Nordic American Offshore Ltd. will post ($1.46) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Wednesday, August 17th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, August 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.42%. Nordic American Offshore’s dividend payout ratio is presently -20.41%.
Separately, Zacks Investment Research cut shares of Nordic American Offshore from a “buy” rating to a “sell” rating in a report on Wednesday, August 10th.
Nordic American Offshore Company Profile
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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