Sable Offshore Corp (NYSE:SOC) shares, rose in value on Wednesday, June 18, with the stock price down by -0.62% to the previous day’s close as strong demand from buyers drove the stock to $22.50.
Actively observing the price movement in the last trading, the stock closed the session at $22.64. Referring to stock’s 52-week performance, its high was $35.00, and the low was $13.66. On the whole, SOC has fluctuated by -31.86% over the past month.
With the market capitalization of Sable Offshore Corp currently standing at about $2.21 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2025-May-09.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that SOC’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of 50% Sell while long-term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the price of SOC currently trading nearly -13.79% and -4.49% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 40.03, while the 7-day volatility ratio is showing 1.17% which for the 30-day chart, stands at 6.06%. Furthermore, Sable Offshore Corp (SOC)’s beta value is 0.67, and its average true range (ATR) is 1.73.
A comparison of Sable Offshore Corp (SOC) with its peers suggests the former has fared considerably weaker in the market. SOC showed an intraday change of -0.62% in last session, and over the past year, it grew by 52.23%%.
Data on historical trading for Sable Offshore Corp (NYSE:SOC) indicates that the trading volumes over the past 3 months, they’ve averaged 2.27 million. According to company’s latest data on outstanding shares, there are 89.34 million shares outstanding.
Nearly 23.61% of Sable Offshore Corp’s shares belong to company insiders and institutional investors own 55.06% of the company’s shares. The stock has fallen by -1.75% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SOC stock heading into the next quarter.
