Noble Corp Plc (NYSE: NE) has seen a decline in its stock price by -1.81 in relation to its previous close of 47.06. However, the company has experienced a -8.62% decline in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-05 that Noble’s (NE) drillship, Noble Voyager, is set to drill one additional well off the coast of Suriname, following the option exercised by Petronas Suriname E&P.
Is It Worth Investing in Noble Corp Plc (NYSE: NE) Right Now?
Noble Corp Plc (NYSE: NE) has a price-to-earnings ratio that is above its average at 14.00x. The stock has a 36-month beta value of 1.03. Opinions on the stock are mixed, with 9 analysts rating it as a “buy,” 2 as “overweight,” 15 as “hold,” and 5 as “sell.”
The public float for NE is 107.24M, and at present, short sellers hold a 6.80% of that float. On April 18, 2024, the average trading volume of NE was 1.14M shares.
NE’s Market Performance
NE’s stock has seen a -8.62% decrease for the week, with a -2.47% drop in the past month and a 5.99% gain in the past quarter. The volatility ratio for the week is 3.08%, and the volatility levels for the past 30 days are at 2.45% for Noble Corp Plc The simple moving average for the past 20 days is -5.52% for NE’s stock, with a -3.09% simple moving average for the past 200 days.
Analysts’ Opinion of NE
Many brokerage firms have already submitted their reports for NE stocks, with Susquehanna repeating the rating for NE by listing it as a “Neutral.” The predicted price for NE in the upcoming period, according to Susquehanna is $52 based on the research report published on December 01, 2023 of the previous year 2023.
CapitalOne, on the other hand, stated in their research note that they expect to see NE reach a price target of $62. The rating they have provided for NE stocks is “Overweight” according to the report published on November 28th, 2023.
Citigroup gave a rating of “Buy” to NE, setting the target price at $64 in the report published on July 05th of the previous year.
NE Trading at 0.45% 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 -16.50% of loss for the given period.
Volatility was left at 2.45%, however, over the last 30 days, the volatility rate increased by 3.08%, as shares sank -4.29% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +7.62% upper at present.
During the last 5 trading sessions, NE fell by -8.62%, which changed the moving average for the period of 200-days by +11.86% in comparison to the 20-day moving average, which settled at $48.80. In addition, Noble Corp Plc saw -4.05% 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 ALTING CAROLINE, who sale 7,274 shares at the price of $44.60 back on Mar 11 ’24. After this action, ALTING CAROLINE now owns 0 shares of Noble Corp Plc, valued at $324,410 using the latest closing price.
Barker Richard B., the EVP and CFO of Noble Corp Plc, sale 45,000 shares at $42.43 during a trade that took place back on Feb 26 ’24, which means that Barker Richard B. is holding 239,342 shares at $1,909,350 based on the most recent closing price.
Stock Fundamentals for NE
Current profitability levels for the company are sitting at:
- 0.21 for the present operating margin
- 0.29 for the gross margin
The net margin for Noble Corp Plc stands at 0.19. The total capital return value is set at 0.11. Equity return is now at value 12.80, with 8.97 for asset returns.
Based on Noble Corp Plc (NE), the company’s capital structure generated 0.13 points at debt to capital in total, while cash flow to debt ratio is standing at 0.96. The debt to equity ratio resting at 0.15. The interest coverage ratio of the stock is 15.14.
Currently, EBITDA for the company is 916.68 million with net debt to EBITDA at 0.34. When we switch over and look at the enterprise to sales, we see a ratio of 2.54. The receivables turnover for the company is 4.37for trailing twelve months and the total asset turnover is 0.47. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.65.
Conclusion
To sum up, Noble Corp Plc (NE) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing 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.
