Nordic American Offshore Ltd (NYSE:NAO)’s share price dropped 5.3% during trading on Wednesday . The company traded as low as $1.12 and last traded at $1.26. Approximately 575,500 shares changed hands during mid-day trading, an increase of 25% from the average daily volume of 458,921 shares. The stock had previously closed at $1.33.

The company has a quick ratio of 13.11, a current ratio of 13.46 and a debt-to-equity ratio of 0.51.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Monday, November 27th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 6.35%. The ex-dividend date of this dividend is Friday, November 24th. Nordic American Offshore’s dividend payout ratio is currently -8.60%.

An institutional investor recently bought a new position in Nordic American Offshore stock. Highland Capital Management LLC bought a new stake in shares of Nordic American Offshore Ltd (NYSE:NAO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 100,000 shares of the shipping company’s stock, valued at approximately $125,000. Highland Capital Management LLC owned about 0.16% of Nordic American Offshore as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 25.75% of the company’s stock.

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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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