Patterson-UTI Energy Inc. (NASDAQ: PTEN)’s stock price has decreased by -4.08 compared to its previous closing price of 11.02. However, the company has seen a -3.65% decrease in its stock price over the last five trading sessions.
Is It Worth Investing in Patterson-UTI Energy Inc. (NASDAQ: PTEN) Right Now?
Patterson-UTI Energy Inc. (NASDAQ: PTEN) has a higher price-to-earnings ratio of 8.16x compared to its average ratio. compared to its average ratio and a 36-month beta value of 2.29.
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The public float for PTEN is 204.16M, and currently, short sellers hold a 7.71% ratio of that float. The average trading volume of PTEN on May 26, 2023 was 3.47M shares.
PTEN’s Market Performance
PTEN stock saw a decrease of -3.65% in the past week, with a monthly decline of -9.27% and a quarterly a decrease of -22.22%. The volatility ratio for the week is 3.74%, and the volatility levels for the last 30 days are 4.43% for Patterson-UTI Energy Inc. (PTEN). The simple moving average for the last 20 days is -0.54% for PTEN stock, with a simple moving average of -27.29% for the last 200 days.
PTEN Trading at -6.89% from the 50-Day Moving Average
After a stumble in the market that brought PTEN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -48.51% of loss for the given period.
Volatility was left at 4.43%, however, over the last 30 days, the volatility rate increased by 3.74%, as shares sank -6.95% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -9.35% lower at present.
During the last 5 trading sessions, PTEN fell by -3.65%, which changed the moving average for the period of 200-days by -27.90% in comparison to the 20-day moving average, which settled at $10.59. In addition, Patterson-UTI Energy Inc. saw -37.23% 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 PTEN starting from Holcomb James Michael, who sale 58,335 shares at the price of $18.65 back on Nov 04. After this action, Holcomb James Michael now owns 273,108 shares of Patterson-UTI Energy Inc., valued at $1,087,948 using the latest closing price.
Holcomb James Michael, the President-Drilling Subsidiary of Patterson-UTI Energy Inc., sale 16,666 shares at $16.01 during a trade that took place back on Oct 26, which means that Holcomb James Michael is holding 331,443 shares at $266,823 based on the most recent closing price.
Stock Fundamentals for PTEN
Equity return is now at value 17.30, with 9.30 for asset returns.
Conclusion
To put it simply, Patterson-UTI Energy Inc. (PTEN) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. 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.
