Nordic American Offshore Ltd (NYSE:NAO)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $0.67 and last traded at $0.71, with a volume of 152483 shares trading hands. The stock had previously closed at $0.75.

Separately, ValuEngine upgraded shares of Nordic American Offshore from a “hold” rating to a “buy” rating in a report on Friday, November 2nd.

The company has a quick ratio of 6.11, a current ratio of 6.70 and a debt-to-equity ratio of 0.60.

A hedge fund recently bought a new stake in Nordic American Offshore stock. DNB Asset Management AS bought a new position in shares of Nordic American Offshore Ltd (NYSE:NAO) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,016,510 shares of the shipping company’s stock, valued at approximately $7,776,000. DNB Asset Management AS owned approximately 12.93% of Nordic American Offshore as of its most recent SEC filing. 28.87% of the stock is owned by institutional investors.

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About Nordic American Offshore (NYSE:NAO)

Nordic American Offshore Ltd. owns and operates platform supply vessels (PSVs). As of December 31, 2017, it had a fleet of 10 PSVs. The company operates its vessels in the United Kingdom and in the Norwegian sectors of the North Sea. Nordic American Offshore Ltd. was founded in 2013 and is based in Hamilton, Bermuda.

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