Nordic American Offshore (NYSE:NAO) Stock Passes Below Two Hundred Day Moving Average of $0.00

Shares of Nordic American Offshore Ltd (NYSE:NAO) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.00 and traded as low as $2.74. Nordic American Offshore shares last traded at $2.80, with a volume of 4,838 shares traded.

Separately, BTIG Research initiated coverage on shares of Nordic American Offshore in a research note on Wednesday, April 24th. They issued a “buy” rating and a $5.00 target price for the company.

The company has a current ratio of 3.16, a quick ratio of 2.90 and a debt-to-equity ratio of 2.45. The company has a 50 day simple moving average of $3.61.

Nordic American Offshore (NYSE:NAO) last released its earnings results on Thursday, June 6th. The shipping company reported ($0.98) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.84). The firm had revenue of $4.56 million for the quarter.

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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