Live Stock Coverage: Could Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) Change Direction After Reaching All-Time Low?

Live Stock Coverage: Could Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) Change Direction After Reaching All Time Low?

The stock of Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) (NYSE:NAO) reached all time low today, Nov, 3 and still has $2.55 target or 12.00% below today’s $2.90 share price. This indicates more downside for the $61.03 million company. This technical setup was reported by Barchart.com. If the $2.55 PT is reached, the company will be worth $7.32M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. The stock decreased 1.69% or $0.05 on November 3, hitting $2.9. About 57,013 shares traded hands or 0.52% up from the average. Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) (NYSE:NAO) has declined 33.41% since April 1, 2016 and is downtrending. It has underperformed by 34.62% the S&P500.

Analysts await Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) (NYSE:NAO) to report earnings on November, 14. They expect $-0.36 earnings per share, down 176.92% or $0.23 from last year’s $-0.13 per share. After $-0.36 actual earnings per share reported by Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

According to Zacks Investment Research, “Nordic American Offshore Ltd. is an international offshore supply vessel company. The Company operates platform supply vessels (PSVs) which are part of the oil exploration business, transporting stores, provisions and equipment to offshore oil installations in such places as the North Sea, the Gulf of Mexico, the coast of Brazil and other locations where there are offshore oil activities. Nordic American Offshore Ltd. is based in Hamilton, Bermuda.”

Insitutional Activity: The institutional sentiment decreased to 0.53 in Q2 2016. Its down 0.35, from 0.88 in 2016Q1. The ratio dived, as 20 funds sold all Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) shares owned while 12 reduced positions. 9 funds bought stakes while 8 increased positions. They now own 3.11 million shares or 27.48% less from 4.29 million shares in 2016Q1.
Parametric Port Assoc Limited Liability Corp holds 0% of its portfolio in Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) (NYSE:NAO) for 87,432 shares. North Star Inv Mngmt holds 0% of its portfolio in Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) (NYSE:NAO) for 1,368 shares. Moreover, Ladenburg Thalmann Services has 0% invested in Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) (NYSE:NAO) for 8 shares. Equitec Proprietary Ltd Co holds 0% of its portfolio in Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) (NYSE:NAO) for 3,817 shares. New York State Common Retirement Fund reported 3,523 shares or 0% of all its holdings. Renaissance Technology Limited Company has 194,600 shares for 0% of their US portfolio. Credit Suisse Ag reported 33,760 shares or 0% of all its holdings. Omega Advisors holds 1.60M shares or 0.21% of its portfolio. Moreover, Morgan Stanley has 0% invested in Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) (NYSE:NAO) for 94,366 shares. The Germany-based Deutsche Fincl Bank Ag has invested 0% in Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) (NYSE:NAO). Barclays Pcl has 2,406 shares for 0% of their US portfolio. Susquehanna Group Ltd Liability Partnership accumulated 54,592 shares or 0% of the stock. Paloma Communications accumulated 0% or 63,211 shares. The Pennsylvania-based Sei Invests Com has invested 0% in Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) (NYSE:NAO). Wealthtrust Axiom Lc holds 393,086 shares or 0.71% of its portfolio.

NAO Company Profile

Nordic American Offshore Limited (NAO), incorporated on October 17, 2013, operates platform supply vessels (PSV). The Firm owns approximately eight vessels. The Firm operates in the offshore support vessel market segment. The Firm 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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