Nordic American Offshore Ltd (NAO) Trading -1.4% Higher
Nordic American Offshore Ltd (NYSE:NAO) traded up 1.4% during trading on Thursday . The stock traded as high as $1.49 and last traded at $1.46. 206,623 shares traded hands during trading, a decline of 30% from the average session volume of 297,106 shares. The stock had previously closed at $1.48.
Separately, Zacks Investment Research lowered shares of Nordic American Offshore from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th.
The stock has a 50-day moving average of $1.23 and a 200 day moving average of $1.15. The stock’s market cap is $31.12 million.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date of this dividend was Tuesday, August 15th. Nordic American Offshore’s dividend payout ratio (DPR) is -6.35%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Highland Capital Management LLC purchased a new position in Nordic American Offshore during the 2nd quarter valued at about $125,000. LMR Partners LLP bought a new stake in shares of Nordic American Offshore in the 1st quarter valued at about $285,000. Mackenzie Financial Corp bought a new stake in shares of Nordic American Offshore in the 1st quarter valued at about $1,140,000. Shah Capital Management boosted its holdings in shares of Nordic American Offshore by 42.7% in the 2nd quarter. Shah Capital Management now owns 1,130,000 shares of the shipping company’s stock valued at $1,412,000 after buying an additional 338,000 shares in the last quarter. Finally, Laurion Capital Management LP bought a new stake in shares of Nordic American Offshore in the 1st quarter valued at about $1,587,000. 26.70% of the stock is currently owned by institutional investors and hedge funds.
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Nordic American Offshore Company Profile
Nordic American Offshore Limited (NAO) operates platform supply vessels (PSV). The Company owns approximately eight vessels. The Company operates in the offshore support vessel market segment. The Company has approximately two vessels under construction. The Company’s vessels operate in the North Sea in both the term and spot market.
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