The trading price of Sable Offshore Corp. (NYSE:SOC) closed higher on Firday, October 25, and closing at $20.69, 0.49% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $20.25 and $21.03. In examining the 52-week price action we see that the stock hit a 52-week high of $28.67 and a 52-week low of $10.11. Over the past month, the stock has lost -12.22% in value.
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Sable Offshore Corp., whose market valuation is $1.69 billion at the time of this writing, is expected to release its quarterly earnings report on 2024-Aug-13. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -0.42 per share this quarter, however they have predicted annual earnings per share of -4.26 for current year and 2.3 for next year.
From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 109.4M.
On the technical side, indicators suggest SOC has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
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 SOC a recommendation rating is 2. Out of them, 0 rate it a Hold, while 2 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Sable Offshore Corp. (SOC) 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 SOC’s price is currently -2.89% off the SMA20 and -0.65% off the SMA50. The RSI metric on the 14-day chart is currently showing 48.78, and weekly volatility stands at 7.03%. When measured over the past 30 days, the indicator reaches 6.70%. Sable Offshore Corp. (NYSE:SOC)’s beta value is currently sitting at 0.30, while the Average True Range indicator is currently displaying 1.44. With analysts defining $32-$222 as the low and high price targets, we arrive at a consensus price target of $127 for the trailing 12-month period. The current price is about -54.66% off the estimated low and -972.98% off the forecast high, based on this estimate. Investors will be thrilled if SOC’s share price rises to $127, which is the median consensus price. At that level, SOC’s share price would be -513.82% below current price.
To see how Sable Offshore Corp. stock has been performing in comparison to its peers in the industry, here are the numbers: SOC stock’s performance was 0.49% in the latest trading, and 97.80% in the past year.
An evaluation of the daily trading volume of Sable Offshore Corp. (NYSE:SOC) indicates that the 3-month average is 1.01 million. However, this figure has increased over the past 10 days to an average of 1.05.
Currently, records show that 81.68 million of the company’s shares remain outstanding. The insiders hold 44.88% of outstanding shares, whereas institutions hold 44.48%. The stats also highlight that short interest as of 2024-10-15, stood at 6.28 million shares, resulting in a short ratio of 4.09 at that time. From this, we can conclude that short interest is 1352.00 of the company’s total outstanding shares. It is noteworthy that short shares in October were up slightly from the previous month’s figure, which was 2.95 million. However, since the stock’s price has seen 81.65% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
