North Atlantic Drilling Ltd. (NYSE:NADL) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “North Atlantic Drilling Ltd offers harsh environment offshore drilling services to the oil and gas industry primarily in Norway and the United Kingdom. The company provides drillships, semi-submersibles, jack-ups, harsh environment and ultra-deepwater units. North Atlantic Drilling Ltd is based in Hamilton, Bermuda. “

Separately, Evercore ISI set a $2.00 target price on shares of North Atlantic Drilling and gave the stock a “sell” rating in a report on Wednesday, September 28th.

Shares of North Atlantic Drilling (NYSE:NADL) opened at 2.67 on Wednesday. The firm has a 50-day moving average of $2.82 and a 200 day moving average of $4.00. The stock’s market capitalization is $64.38 million. North Atlantic Drilling has a one year low of $1.36 and a one year high of $8.08.

Several hedge funds have recently bought and sold shares of NADL. Acrospire Investment Management LLC increased its stake in North Atlantic Drilling by 107.0% in the third quarter. Acrospire Investment Management LLC now owns 34,169 shares of the company’s stock worth $104,000 after buying an additional 17,659 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of North Atlantic Drilling during the second quarter valued at approximately $127,000. Acadian Asset Management LLC increased its position in shares of North Atlantic Drilling by 88.0% in the third quarter. Acadian Asset Management LLC now owns 45,841 shares of the company’s stock valued at $139,000 after buying an additional 21,453 shares during the last quarter. Sanders Morris Harris Inc. increased its position in shares of North Atlantic Drilling by 4.1% in the second quarter. Sanders Morris Harris Inc. now owns 26,506 shares of the company’s stock valued at $179,000 after buying an additional 1,050 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of North Atlantic Drilling during the second quarter valued at approximately $187,000. Hedge funds and other institutional investors own 8.09% of the company’s stock.

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