The price-to-earnings ratio for NOV Inc (NYSE: NOV) is 7.86x, which is above its average ratio. Moreover, the 36-month beta value for NOV is 1.75. Analysts have varying opinions on the stock, with 7 analysts rating it as a “buy,” 1 as “overweight,” 22 as “hold,” and 4 as “sell.”
The public float for NOV is 390.43M and currently, short sellers hold a 2.08% of that float. On April 02, 2024, NOV’s average trading volume was 4.55M shares.
NOV) stock’s latest price update
The stock price of NOV Inc (NYSE: NOV) has jumped by 0.92 compared to previous close of 19.52. Despite this, the company has seen a gain of 3.09% in its stock price over the last five trading days. Zacks Investment Research reported 2024-03-08 that NOV???s (NOV) telescopic leg crane receives dual recognition at the Offshore Support Journal Industry Gala Dinner & Awards and the Maritime Awards Gala.
NOV’s Market Performance
NOV Inc (NOV) has seen a 3.09% rise in stock performance for the week, with a 16.57% gain in the past month and a -3.81% plunge in the past quarter. The volatility ratio for the week is 2.27%, and the volatility levels for the past 30 days are at 2.42% for NOV. The simple moving average for the last 20 days is 7.25% for NOV’s stock, with a simple moving average of 2.94% for the last 200 days.
Analysts’ Opinion of NOV
Many brokerage firms have already submitted their reports for NOV stocks, with TD Cowen repeating the rating for NOV by listing it as a “Outperform.” The predicted price for NOV in the upcoming period, according to TD Cowen is $30 based on the research report published on February 05, 2024 of the current year 2024.
JP Morgan gave a rating of “Overweight” to NOV, setting the target price at $25 in the report published on December 08th of the previous year.
NOV Trading at 7.41% 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 -10.07% of loss for the given period.
Volatility was left at 2.42%, however, over the last 30 days, the volatility rate increased by 2.27%, as shares surge +15.20% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +1.18% upper at present.
During the last 5 trading sessions, NOV rose by +3.09%, which changed the moving average for the period of 200-days by +30.03% in comparison to the 20-day moving average, which settled at $18.50. In addition, NOV Inc saw -2.86% 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 NOV starting from Novak Christy Lynn, who sale 3,500 shares at the price of $17.43 back on Feb 22 ’24. After this action, Novak Christy Lynn now owns 114,212 shares of NOV Inc, valued at $60,988 using the latest closing price.
Stock Fundamentals for NOV
Current profitability levels for the company are sitting at:
- 0.08 for the present operating margin
- 0.21 for the gross margin
The net margin for NOV Inc stands at 0.12. The total capital return value is set at 0.07. Equity return is now at value 17.63, with 9.21 for asset returns.
Based on NOV Inc (NOV), the company’s capital structure generated 0.23 points at debt to capital in total, while cash flow to debt ratio is standing at 0.08. The debt to equity ratio resting at 0.29. The interest coverage ratio of the stock is 8.96.
Currently, EBITDA for the company is 933.0 million with net debt to EBITDA at 1.59. When we switch over and look at the enterprise to sales, we see a ratio of 1.09. The receivables turnover for the company is 3.24for trailing twelve months and the total asset turnover is 0.76. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.40.
Conclusion
To wrap up, the performance of NOV Inc (NOV) has been mixed in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
