Nordic American Offshore Ltd (NAO) Trading Down 0.3%
Nordic American Offshore Ltd (NYSE:NAO) shares were down 0.3% during mid-day trading on Thursday . The company traded as low as $1.31 and last traded at $1.34. Approximately 126,570 shares were traded during trading, a decline of 55% from the average daily volume of 282,467 shares. The stock had previously closed at $1.34.
The company has a debt-to-equity ratio of 0.51, a current ratio of 13.46 and a quick ratio of 13.11.
A hedge fund recently raised its stake in Nordic American Offshore stock. Shah Capital Management boosted its holdings in shares of Nordic American Offshore Ltd (NYSE:NAO) by 42.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,130,000 shares of the shipping company’s stock after purchasing an additional 338,000 shares during the period. Nordic American Offshore comprises approximately 0.7% of Shah Capital Management’s holdings, making the stock its 15th largest holding. Shah Capital Management owned about 1.86% of Nordic American Offshore worth $1,412,000 at the end of the most recent quarter. 26.25% of the stock is currently owned by hedge funds and other institutional investors.
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About Nordic American Offshore
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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