Transocean Ltd (NYSE:RIG) shares, rose in value, without any change to the previous day’s close as strong demand from buyers drove the stock to $4.74.
Actively observing the price movement in the last trading, the stock closed the session at $4.74, falling within a range of $4.635 and $4.76. The value of beta (5-year monthly) was 2.853. Referring to stock’s 52-week performance, its high was $8.88, and the low was $4.45. On the whole, RIG has fluctuated by -13.19% over the past month.
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With the market capitalization of Transocean Ltd currently standing at about $4.15 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Oct-28.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 3.57B, with a low estimate of 929M and a high estimate of 982M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 948.01M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that RIG’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the price of RIG currently trading nearly -5.90% and -9.18% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 38.37, while the 7-day volatility ratio is showing 2.80% which for the 30-day chart, stands at 3.62%. Furthermore, Transocean Ltd (RIG)’s beta value is 2.81, and its average true range (ATR) is 0.20.
A comparison of Transocean Ltd (RIG) with its peers suggests the former has fared considerably weaker in the market. RIG showed an intraday change of 0.00% in last session, and over the past year, it shrunk by -41.98%%.
Data on historical trading for Transocean Ltd (NYSE:RIG) indicates that the trading volumes over the past 10 days have averaged 15.89 and over the past 3 months, they’ve averaged 18.51 million. According to company’s latest data on outstanding shares, there are 809.03 million shares outstanding.
Nearly 16.89% of Transocean Ltd’s shares belong to company insiders and institutional investors own 73.37% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 158.78 million shares as on 2024-08-15, resulting in a short ratio of 8.86. According to the data, the short interest in Transocean Ltd (RIG) stood at 2040.00 of shares outstanding as of 2024-08-15; the number of short shares registered in 2024-07-15 reached 164.73 million. The stock has fallen by -25.35% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RIG stock heading into the next quarter.
