Price Action Don’t Lie: Will Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) Short Squeeze Soon?

Price Action Don't Lie: Will Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) Short Squeeze Soon?

The stock of Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) (NYSE:NAO) hit a new 52-week low and has $2.62 target or 10.00% below today’s $2.91 share price. The 8 months bearish chart indicates high risk for the $61.03 million company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $2.62 price target is reached, the company will be worth $6.10M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 32,887 shares traded hands. 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 2016 Q2. Its down 0.35, from 0.88 in 2016Q1. The ratio fall, 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.
Paloma Prtn Management holds 0% or 63,211 shares in its portfolio. Alpine Vi last reported 23,197 shares in the company. National Bank & Trust Of Montreal Can accumulated 2,493 shares or 0% of the stock. Reilly Fincl Advsr Ltd Liability Corp accumulated 0% or 5 shares. Laurion Mgmt Ltd Partnership accumulated 0% or 50,900 shares. Taylor Frigon Capital Mngmt Ltd holds 0.56% or 113,791 shares in its portfolio. California Pub Employees Retirement accumulated 0% or 70,700 shares. Creative Planning, a Kansas-based fund reported 1,020 shares. Renaissance Tech Limited Liability Corp has invested 0% of its portfolio in Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) (NYSE:NAO). Advsrs Asset Management holds 15,850 shares or 0% of its portfolio. Huntington Comml Bank holds 13 shares or 0% of its portfolio. Savings Bank Of America Corporation De last reported 15,159 shares in the company. Wells Fargo & Company Mn has invested 0% of its portfolio in Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) (NYSE:NAO). Kcg holds 0% of its portfolio in Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) (NYSE:NAO) for 16,195 shares. Wealthtrust Axiom Lc holds 0.71% or 393,086 shares in 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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