Nordic American Offshore Ltd (NYSE:NAO)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $0.66 and last traded at $0.69, with a volume of 2000 shares. The stock had previously closed at $0.69.

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

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

An institutional investor recently bought a new position in Nordic American Offshore stock. Pzena Investment Management LLC acquired a new stake in Nordic American Offshore Ltd (NYSE:NAO) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,027,064 shares of the shipping company’s stock, valued at approximately $1,966,000. Pzena Investment Management LLC owned 3.27% of Nordic American Offshore at the end of the most recent reporting period. Hedge funds and other institutional investors own 31.84% of the company’s stock.

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Nordic American Offshore Company Profile (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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