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Nordic American Offshore (NYSE:NAO)’s share price reached a new 52-week high during trading on Wednesday , American Banking News.com reports. The stock traded as high as $19.80 and last traded at $19.68, with a volume of 171,554 shares changing hands. The stock had previously closed at $19.39.

A number of research firms have recently commented on NAO. Analysts at EuroPacific Canada initiated coverage on shares of Nordic American Offshore in a research note on Wednesday. They set a “buy” rating on the stock. Separately, analysts at Eurobank EFG initiated coverage on shares of Nordic American Offshore in a research note on Tuesday. They set a “buy” rating on the stock. Finally, analysts at Citigroup Inc. initiated coverage on shares of Nordic American Offshore in a research note on Monday. They set an “outperform” rating and a $22.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $21.25.

The stock’s 50-day moving average is $18.07 and its 200-day moving average is $18.07. The company’s market cap is $447.6 million.

Nordic American Offshore Ltd. is an international company. The Company is engaged in acquiring and operating platform supply vessels (NYSE:NAO), with an initial focus of operations in the North Sea.

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