Transocean Ltd (NYSE:RIG) shares, rose in value, with the stock price up by 9.05% to the previous day’s close as strong demand from buyers drove the stock to $4.34.
Actively observing the price movement in the last trading, the stock closed the session at $3.98, falling within a range of $4.075 and $4.4. Referring to stock’s 52-week performance, its high was $7.05, and the low was $3.85. On the whole, RIG has fluctuated by 0.23% over the past month.
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With the market capitalization of Transocean Ltd currently standing at about $3.80 billion, investors are eagerly awaiting this quarter’s results, scheduled for in December.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 3.55B, with a low estimate of 942M and a high estimate of 1.04B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 979.35M.
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 50% 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 2.84% and -0.32% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 53.23, while the 7-day volatility ratio is showing 4.07% which for the 30-day chart, stands at 4.10%. Furthermore, Transocean Ltd (RIG)’s beta value is 2.79, 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 9.05% in last session, and over the past year, it shrunk by -34.44%%.
Data on historical trading for Transocean Ltd (NYSE:RIG) indicates that the trading volumes over the past 10 days have averaged 19.22 and over the past 3 months, they’ve averaged 19.46 million. According to company’s latest data on outstanding shares, there are 809.03 million shares outstanding.
Nearly 16.50% of Transocean Ltd’s shares belong to company insiders and institutional investors own 68.98% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 149.67 million shares as on 2024-10-15, resulting in a short ratio of 7.64. According to the data, the short interest in Transocean Ltd (RIG) stood at 1923.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 153.85 million. The stock has fallen by -31.65% 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.
