NOV Inc. (NYSE:NOV) saw an upside of 2.59% to close Tuesday at $23.40 after adding $0.59 on the day. The 5-day average trading volume is 4,101,820 shares of the company’s common stock. It has gained $24.09 in the past week and touched a new high 1 time within the past 5 days. An average of 2,938,310 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,799,430.
NOV’s 1-month performance is 14.26% or $2.68 on its low of $19.51 reached on 01/04/23. The company’s shares have touched a 52-week low of $13.98 and high of $24.25, with the stock’s rally to the 52-week high happening on 01/18/23. YTD, NOV has achieved 12.02% or $2.51 and has reached a new high 9 times. However, the current price is down -3.51% from the 52-week high price.
NOV stock investors last saw insider trading activity on Nov 04.Novak Christy Lynn (VP, Corp. Controller, CAO) most recently sold 4,575 shares at $23.17 per share on Nov 04. This transaction cost the insider $106,011., Joseph Isaac H., sold 2,500 shares at a price of $22.77 on Nov 01. Then, on Sep 01, Director HARRISON DAVID D sold 3,112 shares at a price of $17.01 per share. This transaction amounted to $52,941.
NOV stock has a beta of 1.87. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.34 while the price-to-book (PB) in the most recent quarter is 1.88.
NOV Inc.’s quick ratio for the period ended September 29 was 1.50, with the current ratio over the same period at 2.30. As well, the company’s long term debt to equity for the quarter ending September 29 was 0.40, while the total debt to equity was 0.40.. In terms of profitability, the gross margin trailing 12 months is 16.40%. The firm’s gross profit as reported stood at $774.0 million against revenue of $5.52 billion.
For the quarterly period ending September 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 315.62% to $32.0 million, while revenue of $69.0 million was -115.62% off the previous quarter. Analysts expected NOV to announce $0.16 per share in earnings in its latest quarter, but it posted $0.08, representing a -50.00% surprise. EBITDA for the quarter stood at more than $131.0 million. NOV stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 4.83 billion, with total debt at $2.36 billion. Shareholders hold equity totaling $392.81 million.
Let’s look briefly at NOV Inc. (NOV) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 63.82% to suggest the stock is trending Neutral, with historical volatility in this time period at 29.76%.
The stock’s 5-day moving average is $22.93, reflecting a -0.72% or -$0.17 change from its current price. NOV is currently trading +17.12% above its 20-day SMA, +30.07% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +3.86% and SMA200 by+21.43%.
Stochastic %K and %D was 78.53% and 74.19% and the average true range (ATR) pointed at 0.84. The RSI (14) points at 61.26%, while the 14-day stochastic is at 84.93% with the period’s ATR at 0.83. The stock’s 9-day MACD Oscillator is pointing at 0.08 and 0.58 on the 14-day charts.
In the most recent analyst report for NOV Inc. (NYSE: NOV), The Benchmark Company launched coverage with a Buy rating. Analysts offering their rating for NOV stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate NOV as a “sell,”, while 9 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 14 have offered a “buy” rating.
What is NOV’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $18.00 and a high of $32.00, with their median price target at $26.00. Looking at these predictions, the average price target given by analysts is for NOV Inc. (NOV) stock is $25.68.