Nordic American Offshore Ltd. (NAO) saw a big move in the last trading session, as the company’s shares fell by nearly 9% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent trend for NAO, as the stock is now down nearly 26% in the past one-month time frame.
This slump shouldn’t be too much of a surprise to investors, as the company, which owns and operates platform supply vessels, has seen 1 negative revision in the past few weeks and its current year earnings consensus has also moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
NAO currently holds a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
Investors interested in the Transportation – Shipping sector may consider better-ranked stocks like Dorian LPG Ltd. (LPG), Nordic American Tankers Limited (NAT), and KNOT Offshore Partners LP (KNOP), each of which holds a Zacks Rank #2 (Buy).
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