Nordic American Offshore Ltd (NAO) Trading Up -1.4%
Nordic American Offshore Ltd (NYSE:NAO)’s share price was up 1.4% on Thursday . The stock traded as high as $1.49 and last traded at $1.46. Approximately 206,623 shares changed hands during mid-day trading, a decline of 30% from the average daily 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 report on Wednesday, July 5th.
The firm’s 50-day moving average is $1.24 and its 200 day moving average is $1.16. The company’s market cap is $31.12 million.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Thursday, August 17th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date of this dividend was Tuesday, August 15th. Nordic American Offshore’s dividend payout ratio (DPR) is currently -6.35%.
Large investors have recently modified their holdings of the stock. Highland Capital Management LLC purchased a new position in shares of Nordic American Offshore in the 2nd quarter worth about $125,000. LMR Partners LLP purchased a new position in shares of Nordic American Offshore in the 1st quarter worth about $285,000. Mackenzie Financial Corp purchased a new position in shares of Nordic American Offshore in the 1st quarter worth 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 worth $1,412,000 after buying an additional 338,000 shares during the last quarter. Finally, Laurion Capital Management LP purchased a new position in shares of Nordic American Offshore in the 1st quarter worth about $1,587,000. 26.70% of the stock is currently owned by institutional investors.
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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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