Transocean Ltd (NYSE:RIG) price on Thursday, October 24, fall -0.24% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $4.10.
A look at the stock’s price movement, the close in the last trading session was $4.11, moving within a range at $3.96 and $4.225. The beta value (5-Year monthly) was 2.792. Turning to its 52-week performance, $7.15 and $3.85 were the 52-week high and 52-week low respectively. Overall, RIG moved -7.24% over the past month.
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Transocean Ltd’s market cap currently stands at around $3.59 billion, with investors looking forward to this quarter’s earnings report slated for in November.
Analysts have a consensus estimate of 943.83M for the company’s revenue for the quarter, with a low and high estimate of 929M and 982M respectively. The average forecast suggests up to a 30.60% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 3.55B, representing a 25.30% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that RIG is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
15 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 12 recommend RIG as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
RIG’s current price about -4.48% and -7.99% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 41.09, while 7-day volatility ratio is 4.18% and 4.17% in the 30-day chart. Further, Transocean Ltd (RIG) has a beta value of 2.79, and an average true range (ATR) of 0.20. Analysts have given the company’s stock an average 52-week price target of $5.5, forecast between a low of $3 and high of $12. Looking at the price targets, the low is 26.83% off current price level while to achieve the yearly target high, price needs to move -192.68%. Nonetheless, investors will most likely welcome a -34.15% jump to $5.5 which is the analysts’ median price.
If we refocus on Transocean Ltd (NYSE:RIG), historical trading data shows that trading volumes averaged 15.27 over the past 10 days and 19.23 million over the past 3 months. The company’s latest data on shares outstanding shows there are 809.03 million shares.
The 16.50% of Transocean Ltd’s shares are in the hands of company insiders while institutional holders own 69.37% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 159.76 million on 2024-09-30, giving us a short ratio of 6.94. The data shows that as of 2024-09-30 short interest in Transocean Ltd (RIG) stood at 2052.0 of shares outstanding, with shares short rising to 159.11 million registered in 2024-08-30. Current price change has pushed the stock -35.43% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the RIG stock continues to rise going into the next quarter.
