Stock of The Day: What’s Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) Downside After Achieving All-Time Low?

Stock of The Day: What's Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) Downside After Achieving All Time Low?

The stock of Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) (NYSE:NAO) reached all time low today, Nov, 8 and still has $2.33 target or 12.00% below today’s $2.65 share price. This indicates more downside for the $55.85M company. This technical setup was reported by Barchart.com. If the $2.33 PT is reached, the company will be worth $6.70 million 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. About 36,525 shares traded hands. Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) (NYSE:NAO) has declined 33.26% since April 5, 2016 and is downtrending. It has underperformed by 35.21% 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 is negative, 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.
New York State Common Retirement Fund has 3,523 shares for 0% of their US portfolio. Kcg holds 0% or 16,195 shares in its portfolio. Next Financial holds 0% or 138 shares in its portfolio. Savings Bank Of Montreal Can last reported 0% of its portfolio in the stock. Alpine Prns Vi Lc has invested 0.05% of its portfolio in Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) (NYSE:NAO). Lmr Prtnrs Ltd Liability Partnership accumulated 0.01% or 13,014 shares. Equitec Proprietary Mkts Lc last reported 3,817 shares in the company. Wells Fargo & Mn accumulated 0% or 2,354 shares. Laurion Mgmt L P has 50,900 shares for 0% of their US portfolio. Susquehanna Group Incorporated Ltd Liability Partnership holds 0% or 54,592 shares in its portfolio. Sei Com has 0% invested in the company for 5 shares. Us Bancorp De has invested 0% of its portfolio in Nordic Amern Offshore Ltd Ordinary Shares (Bermuda) (NYSE:NAO). Creative Planning reported 1,020 shares or 0% of all its holdings. Ladenburg Thalmann Financial Inc accumulated 8 shares or 0% of the stock. Fifth Third National Bank & Trust, a Ohio-based fund reported 100 shares.

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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