Transocean Ltd (NYSE:RIG) price on Thursday, February 06, fall -3.10% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $3.75.
A look at the stock’s price movement, the close in the last trading session was $3.87, moving within a range at $3.72 and $3.94. The beta value (5-Year monthly) was 2.787. Turning to its 52-week performance, $6.88 and $3.40 were the 52-week high and 52-week low respectively. Overall, RIG moved -5.78% over the past month.
Transocean Ltd’s market cap currently stands at around $3.28 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 962.76M for the company’s revenue for the quarter, with a low and high estimate of 960M and 965.12M respectively. The average forecast suggests up to a 29.93% 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 3.53B, representing a 24.69% 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 -4.92% and -5.05% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 42.48, while 7-day volatility ratio is 4.81% and 4.58% in the 30-day chart. Further, Transocean Ltd (RIG) has a beta value of 2.68, and an average true range (ATR) of 0.18. Analysts have given the company’s stock an average 52-week price target of $5, forecast between a low of $4.5 and high of $5.5. Looking at the price targets, the low is -20.0% off current price level while to achieve the yearly target high, price needs to move -46.67%. Nonetheless, investors will most likely welcome a -33.33% jump to $5 which is the analysts’ median price.
If we refocus on Transocean Ltd (NYSE:RIG), historical trading data shows that trading volumes averaged 26.37 over the past 10 days and 22.65 million over the past 3 months. The company’s latest data on shares outstanding shows there are 875.80 million shares.
The 16.52% of Transocean Ltd’s shares are in the hands of company insiders while institutional holders own 69.85% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 143.02 million on 2025-01-15, giving us a short ratio of 5.73. The data shows that as of 2025-01-15 short interest in Transocean Ltd (RIG) stood at 1836.0001 of shares outstanding, with shares short falling to 149.85 million registered in 2024-12-13. Current price change has pushed the stock 0.00% 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.
