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The Impact of Market Fluctuations on NOV Inc.’s (NOV) Stock

The stock of NOV Inc. (NOV) has gone down by -0.90% for the week, with a 2.90% rise in the past month and a 32.05% rise in the past quarter. The volatility ratio for the week is 3.05%, and the volatility levels for the past 30 days are 2.68% for NOV. The simple moving average for the past 20 days is 0.53% for NOV’s stock, with a 8.15% simple moving average for the past 200 days.

Is It Worth Investing in NOV Inc. (NYSE: NOV) Right Now?

The price-to-earnings ratio for NOV Inc. (NYSE: NOV) is above average at 19.86x, while the 36-month beta value is 1.92.Analysts have differing opinions on the stock, with 13 analysts rating it as a “buy,” 2 as “overweight,” 9 as “hold,” and 1 as “sell.”

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The average price point forecasted by analysts for NOV Inc. (NOV) is $24.57, which is $3.94 above the current market price. The public float for NOV is 391.08M, and currently, short sellers hold a 4.11% ratio of that floaft. The average trading volume of NOV on September 18, 2023 was 4.07M shares.

NOV) stock’s latest price update

NOV Inc. (NYSE: NOV) has experienced a rise in its stock price by 0.38 compared to its previous closing price of 20.85. However, the company has seen a fall of -0.90% in its stock price over the last five trading days. Zacks Investment Research reported 2023-09-14 that Investors need to pay close attention to NOV stock based on the movements in the options market lately.

Analysts’ Opinion of NOV

Many brokerage firms have already submitted their reports for NOV stocks, with CapitalOne repeating the rating for NOV by listing it as a “Equal Weight.” The predicted price for NOV in the upcoming period, according to CapitalOne is $20 based on the research report published on July 14, 2023 of the current year 2023.

NOV Trading at 5.56% from the 50-Day Moving Average

After a stumble in the market that brought NOV to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -15.71% of loss for the given period.

Volatility was left at 2.68%, however, over the last 30 days, the volatility rate increased by 3.05%, as shares surge +4.13% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +30.08% upper at present.

During the last 5 trading sessions, NOV fell by -0.90%, which changed the moving average for the period of 200-days by -3.90% in comparison to the 20-day moving average, which settled at $20.86. In addition, NOV Inc. saw 0.19% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at NOV starting from MATTSON ERIC L, who sale 20,681 shares at the price of $21.90 back on Feb 28. After this action, MATTSON ERIC L now owns 46,600 shares of NOV Inc., valued at $452,919 using the latest closing price.

Novak Christy Lynn, the VP, Corp. Controller, CAO of NOV Inc., sale 9,607 shares at $21.86 during a trade that took place back on Feb 27, which means that Novak Christy Lynn is holding 84,600 shares at $210,019 based on the most recent closing price.

Stock Fundamentals for NOV

Current profitability levels for the company are sitting at:

  • +3.53 for the present operating margin
  • +18.32 for the gross margin

The net margin for NOV Inc. stands at +2.14. The total capital return value is set at 3.41, while invested capital returns managed to touch 2.12. Equity return is now at value 8.10, with 4.10 for asset returns.

Based on NOV Inc. (NOV), the company’s capital structure generated 46.43 points at debt to equity in total, while total debt to capital is 31.71. Total debt to assets is 23.02, with long-term debt to equity ratio resting at 44.47. Finally, the long-term debt to capital ratio is 30.37.

When we switch over and look at the enterprise to sales, we see a ratio of 1.19, with the company’s debt to enterprise value settled at 0.25. The receivables turnover for the company is 3.44 and the total asset turnover is 0.72. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.25.

Conclusion

In a nutshell, NOV Inc. (NOV) has experienced a better performance in recent times. The stock has received mixed “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.