Noble Corporation Plc (NYSE: NE)’s stock price has decreased by -5.72 compared to its previous closing price of 39.70. However, the company has seen a fall of -12.07% in its stock price over the last five trading days. Barron’s reported on 11/27/22 that Second-Largest U.S. Pension Doubled Down on Rivian and Noble Stock
Is It Worth Investing in Noble Corporation Plc (NYSE: NE) Right Now?
The price-to-earnings ratio for Noble Corporation Plc (NYSE: NE) is 30.36x, which is above its average ratio. Analysts have varying opinions on the stock, with 7 analysts rating it as a “buy,” 1 as “overweight,” 1 as “hold,” and 0 as “sell.”
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The public float for NE is 133.51M and currently, short sellers hold a 3.35% of that float. On March 16, 2023, NE’s average trading volume was 1.91M shares.
NE’s Market Performance
NE stock saw a decrease of -12.07% in the past week, with a monthly decline of -13.16% and a quarterly a decrease of 8.65%. The volatility ratio for the week is 4.82%, and the volatility levels for the last 30 days are 4.67% for Noble Corporation Plc (NE). The simple moving average for the last 20 days is -10.07% for NE stock, with a simple moving average of 8.55% for the last 200 days.
Analysts’ Opinion of NE
Many brokerage firms have already submitted their reports for NE stocks, with The Benchmark Company repeating the rating for NE by listing it as a “Buy.” The predicted price for NE in the upcoming period, according to The Benchmark Company is $50 based on the research report published on January 19th of the current year 2023.
BTIG Research, on the other hand, stated in their research note that they expect to see NE reach a price target of $60. The rating they have provided for NE stocks is “Buy” according to the report published on June 01st, 2022.
Evercore ISI gave a rating of “Outperform” to NE, setting the target price at $45 in the report published on February 08th of the previous year.
NE Trading at -7.37% from the 50-Day Moving Average
After a stumble in the market that brought NE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -17.74% of loss for the given period.
Volatility was left at 4.67%, however, over the last 30 days, the volatility rate increased by 4.82%, as shares sank -14.01% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -0.74% lower at present.
During the last 5 trading sessions, NE fell by -12.07%, which changed the moving average for the period of 200-days by +1.46% in comparison to the 20-day moving average, which settled at $41.32. In addition, Noble Corporation Plc saw -0.74% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at NE starting from PACIFIC INVESTMENT MANAGEMENT, who sale 334,313 shares at the price of $35.80 back on Nov 01. After this action, PACIFIC INVESTMENT MANAGEMENT now owns 12,420,422 shares of Noble Corporation Plc, valued at $11,968,405 using the latest closing price.
PACIFIC INVESTMENT MANAGEMENT, the 10% Owner of Noble Corporation Plc, sale 300,000 shares at $35.77 during a trade that took place back on Oct 31, which means that PACIFIC INVESTMENT MANAGEMENT is holding 12,754,735 shares at $10,731,000 based on the most recent closing price.
Stock Fundamentals for NE
Current profitability levels for the company are sitting at:
- +15.79 for the present operating margin
- +21.60 for the gross margin
The net margin for Noble Corporation Plc stands at +11.95. Equity return is now at value 10.50, with 7.30 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 1.58.
Conclusion
To wrap up, the performance of Noble Corporation Plc (NE) has been mixed in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
