The trading price of Transocean Ltd (NYSE:RIG) floating higher at last check on current market day and closing at $5.01, 0.70% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $4.99 and $5.11. In examining the 52-week price action we see that the stock hit a 52-week high of $8.88 and a 52-week low of $4.45. Over the past month, the stock has lost -13.71% in value.
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Transocean Ltd, whose market valuation is $4.38 billion at the time of this writing, is expected to release its quarterly earnings report on 2024-Oct-28. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -0.03 per share this quarter, however they have predicted annual earnings per share of -0.14 for current year and 0.33 for next year.
Analysts have forecast the company to bring in revenue of 946.59M for the current quarter, with the likely lows of 929M and highs of 982M. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 3.56B.
On the technical side, indicators suggest RIG has a 100% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Sell, while an average of long term indicators suggests that the stock is currently 100% Sell.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned RIG a recommendation rating is 15. Out of them, 3 rate it a Hold, while 12 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Transocean Ltd (RIG) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that RIG’s price is currently -3.74% off the SMA20 and -4.71% off the SMA50. The RSI metric on the 14-day chart is currently showing 44.87, and weekly volatility stands at 4.30%. When measured over the past 30 days, the indicator reaches 4.17%. Transocean Ltd (NYSE:RIG)’s beta value is currently sitting at 2.80, while the Average True Range indicator is currently displaying 0.22. With analysts defining $3-$12 as the low and high price targets, we arrive at a consensus price target of $5.6 for the trailing 12-month period. The current price is about 40.12% off the estimated low and -139.52% off the forecast high, based on this estimate. Investors will be thrilled if RIG’s share price rises to $5.6, which is the median consensus price. At that level, RIG’s share price would be -11.78% below current price.
To see how Transocean Ltd stock has been performing today in comparison to its peers in the industry, here are the numbers: RIG stock’s performance was 0.70% at last check in today’s session, and -34.23% in the past year.
An evaluation of the daily trading volume of Transocean Ltd (NYSE:RIG) indicates that the 3-month average is 18.55 million. However, this figure has increased over the past 10 days to an average of 16.6.
Currently, records show that 809.03 million of the company’s shares remain outstanding. The insiders hold 16.89% of outstanding shares, whereasinstitutions hold 73.36%. The stats also highlight that short interest as of 2024-07-31, stood at 161.46 million shares, resulting in a short ratio of 10.32 at that time. From this, we can conclude that short interest is 2074.00 of the company’s total outstanding shares. It is noteworthy that short shares in July were up slightly from the previous month’s figure, which was 139.85 million. However, since the stock’s price has seen -21.18% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
