The stock of ChampionX Corp. (NASDAQ: CHX) has increased by 8.62 when compared to last closing price of 35.40.Despite this, the company has seen a gain of 12.00% in its stock price over the last five trading days. Zacks Investment Research reported 2024-03-26 that ChampionX (CHX) to expand its global footprint with the RMSpumptools acquisition, enhancing oilfield tech solutions.
Is It Worth Investing in ChampionX Corp. (NASDAQ: CHX) Right Now?
ChampionX Corp. (NASDAQ: CHX) has a higher price-to-earnings ratio of 24.44x compared to its average ratio, The 36-month beta value for CHX is at 2.47. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for CHX is 189.18M, and currently, shorts hold a 4.61% of that float. The average trading volume for CHX on April 02, 2024 was 1.45M shares.
CHX’s Market Performance
CHX’s stock has seen a 12.00% increase for the week, with a 20.57% rise in the past month and a 31.63% gain in the past quarter. The volatility ratio for the week is 2.12%, and the volatility levels for the past 30 days are at 2.24% for ChampionX Corp. The simple moving average for the past 20 days is 15.74% for CHX’s stock, with a 20.29% simple moving average for the past 200 days.
Analysts’ Opinion of CHX
Many brokerage firms have already submitted their reports for CHX stocks, with Piper Sandler repeating the rating for CHX by listing it as a “Neutral.” The predicted price for CHX in the upcoming period, according to Piper Sandler is $32 based on the research report published on January 08, 2024 of the current year 2024.
Barclays, on the other hand, stated in their research note that they expect to see CHX reach a price target of $42, previously predicting the price at $33. The rating they have provided for CHX stocks is “Overweight” according to the report published on October 17th, 2023.
CapitalOne gave a rating of “Overweight” to CHX, setting the target price at $40 in the report published on July 14th of the previous year.
CHX Trading at 25.38% from the 50-Day Moving Average
After a stumble in the market that brought CHX to its low price for the period of the last 52 weeks, the company was able to rebound, for now settling with 0.21% of gains for the given period.
Volatility was left at 2.24%, however, over the last 30 days, the volatility rate increased by 2.12%, as shares surge +22.16% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +46.09% upper at present.
During the last 5 trading sessions, CHX rose by +12.09%, which changed the moving average for the period of 200-days by +37.48% in comparison to the 20-day moving average, which settled at $33.57. In addition, ChampionX Corp. saw 31.63% 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 CHX starting from O’Dell William Jr., who sale 27,178 shares at the price of $36.00 back on Mar 28 ’24. After this action, O’Dell William Jr. now owns 57,748 shares of ChampionX Corp., valued at $978,408 using the latest closing price.
Bryant Deric D. sale 6,540 shares at $35.02 during a trade that took place back on Oct 03 ’23, which means that Bryant Deric D. is holding 298,619 shares at $229,014 based on the most recent closing price.
Stock Fundamentals for CHX
Current profitability levels for the company are sitting at:
- 0.14 for the present operating margin
- 0.3 for the gross margin
The net margin for ChampionX Corp. stands at 0.08. The total capital return value is set at 0.22. Equity return is now at value 18.64, with 9.48 for asset returns.
Based on ChampionX Corp. (CHX), the company’s capital structure generated 0.28 points at debt to capital in total, while cash flow to debt ratio is standing at 0.81. The debt to equity ratio resting at 0.4. The interest coverage ratio of the stock is 9.78.
Currently, EBITDA for the company is 763.62 million with net debt to EBITDA at 0.49. When we switch over and look at the enterprise to sales, we see a ratio of 2.06. The receivables turnover for the company is 7.03for trailing twelve months and the total asset turnover is 1.16. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.82.
Conclusion
In conclusion, ChampionX Corp. (CHX) has had a better performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
