The stock of NOV Inc (NYSE: NOV) has increased by 1.94 when compared to last closing price of 18.54. Despite this, the company has experienced a -2.33% fall in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-29 that NOV expects consolidated revenues to grow in the mid-single percentage range, with adjusted EBITDA in the range of $1.10-$1.25 billion, for full year 2024.
Is It Worth Investing in NOV Inc (NYSE: NOV) Right Now?
NOV Inc (NYSE: NOV) has a price-to-earnings ratio of 7.60x that is above its average ratio. Additionally, the 36-month beta value for NOV is 1.72. There are mixed opinions on the stock, with 7 analysts rating it as a “buy,” 1 rating it as “overweight,” 22 rating it as “hold,” and 4 rating it as “sell.”
The public float for NOV is 392.84M and currently, short sellers hold a 2.69% ratio of that float. The average trading volume of NOV on May 07, 2024 was 4.28M shares.
NOV’s Market Performance
NOV stock saw a decrease of -2.33% in the past week, with a monthly decline of -7.85% and a quarterly a decrease of 9.19%. The volatility ratio for the week is 2.43%, and the volatility levels for the last 30 days are 2.96% for NOV Inc (NOV). The simple moving average for the past 20 days is -1.00% for NOV’s stock, with a -2.98% simple moving average for the past 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 “Buy.” The predicted price for NOV in the upcoming period, according to TD Cowen is $26 based on the research report published on April 29, 2024 of the current year 2024.
TD Cowen, on the other hand, stated in their research note that they expect to see NOV reach a price target of $30, previously predicting the price at $31. The rating they have provided for NOV stocks is “Outperform” according to the report published on February 05th, 2024.
NOV Trading at 1.10% 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 -13.72% of loss for the given period.
Volatility was left at 2.96%, however, over the last 30 days, the volatility rate increased by 2.43%, as shares sank -7.26% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +9.69% upper at present.
During the last 5 trading sessions, NOV fell by -2.33%, which changed the moving average for the period of 200-days by +2.77% in comparison to the 20-day moving average, which settled at $19.02. In addition, NOV Inc saw -6.80% 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 0.11. The total capital return value is set at 0.08. Equity return is now at value 17.16, with 9.18 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 0.14. The debt to equity ratio resting at 0.31. The interest coverage ratio of the stock is 8.2.
Currently, EBITDA for the company is 933.0 million with net debt to EBITDA at 2.02. When we switch over and look at the enterprise to sales, we see a ratio of 1.08. The receivables turnover for the company is 3.27for trailing twelve months and the total asset turnover is 0.78. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.50.
Conclusion
In conclusion, NOV Inc (NOV) has seen mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it 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.
