Sable Offshore Corp (NYSE: SOC) has experienced a decline in its stock price by -2.60 compared to its previous closing price of 22.49. However, the company has seen a fall of -4.76% in its stock price over the last five trading days. businesswire.com reported 2024-11-14 that SANTA BARBARA, Calif.–(BUSINESS WIRE)–Sable Offshore Corp. Continues to Coordinate with California Coastal Commission on Maintenance and Repair Work in the Coastal Zone.
Is It Worth Investing in Sable Offshore Corp (NYSE: SOC) Right Now?
The 36-month beta value for SOC is also noteworthy at 0.31. There are mixed opinions on the stock, with 4 analysts rating it as a “buy,” 1 rating it as “overweight,” 0 rating it as “hold,” and 1 rating it as “sell.”
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The public float for SOC is 50.44M, and at present, short sellers hold a 11.24% of that float. The average trading volume of SOC on November 15, 2024 was 1.16M shares.
SOC’s Market Performance
The stock of Sable Offshore Corp (SOC) has seen a -4.76% decrease in the past week, with a 10.08% rise in the past month, and a 42.89% gain in the past quarter. The volatility ratio for the week is 5.37%, and the volatility levels for the past 30 days are at 6.09% for SOC. The simple moving average for the past 20 days is -0.04% for SOC’s stock, with a 39.31% simple moving average for the past 200 days.
Analysts’ Opinion of SOC
Many brokerage firms have already submitted their reports for SOC stocks, with Johnson Rice repeating the rating for SOC by listing it as a “Buy.” The predicted price for SOC in the upcoming period, according to Johnson Rice is $30 based on the research report published on November 05, 2024 of the current year 2024.
BWS Financial, on the other hand, stated in their research note that they expect to see SOC reach a price target of $6. The rating they have provided for SOC stocks is “Sell” according to the report published on October 08th, 2024.
Jefferies gave a rating of “Buy” to SOC, setting the target price at $19 in the report published on August 13th of the current year.
SOC Trading at -2.14% from the 50-Day Moving Average
After a stumble in the market that brought SOC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -23.60% of loss for the given period.
Volatility was left at 6.09%, however, over the last 30 days, the volatility rate increased by 5.37%, as shares surge +7.51% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -0.27% lower at present.
During the last 5 trading sessions, SOC fell by -5.39%, which changed the moving average for the period of 200-days by +72.36% in comparison to the 20-day moving average, which settled at $21.91. In addition, Sable Offshore Corp saw 92.32% 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 SOC starting from Pilgrim Global ICAV, who purchase 750,000 shares at the price of $20.00 back on Sep 19 ’24. After this action, Pilgrim Global ICAV now owns 8,791,001 shares of Sable Offshore Corp, valued at $15,000,000 using the latest closing price.
Pilgrim Global ICAV, the 10% Owner of Sable Offshore Corp, purchase 41,000 shares at $15.45 during a trade that took place back on Aug 27 ’24, which means that Pilgrim Global ICAV is holding 8,041,001 shares at $633,450 based on the most recent closing price.
Stock Fundamentals for SOC
The total capital return value is set at -0.21. Equity return is now at value -410.58, with -59.71 for asset returns.
Currently, EBITDA for the company is -4.92 million with net debt to EBITDA at 0.54. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.73.
Conclusion
In summary, Sable Offshore Corp (SOC) has had a better performance as of late. Analysts have bullish opinions on the stock, with some viewing 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.
