Nordic American Offshore (NAO) Upgraded by ValuEngine to Buy

ValuEngine upgraded shares of Nordic American Offshore (NYSE:NAO) from a hold rating to a buy rating in a research note released on Friday morning.

Shares of NAO stock opened at $0.84 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 6.11 and a current ratio of 6.70. Nordic American Offshore has a twelve month low of $0.71 and a twelve month high of $1.55.

Nordic American Offshore (NYSE:NAO) last announced its quarterly earnings results on Friday, August 10th. The shipping company reported ($0.16) earnings per share for the quarter. The firm had revenue of $4.20 million for the quarter. Nordic American Offshore had a negative net margin of 211.28% and a negative return on equity of 13.89%.

An institutional investor recently bought a new position in Nordic American Offshore stock. DNB Asset Management AS purchased a new stake in shares of Nordic American Offshore Ltd (NYSE:NAO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 8,016,510 shares of the shipping company’s stock, valued at approximately $7,776,000. DNB Asset Management AS owned about 12.93% of Nordic American Offshore at the end of the most recent quarter. Hedge funds and other institutional investors own 28.92% of the company’s stock.

Nordic American Offshore Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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