ChampionX Corporation [NYSE: CHX] price surged by 9.10 percent to reach at $1.19. The company report on December 1, 2020 that ChampionX Corporation Announces Tender Offer for 6.375% Senior Notes due 2026.
ChampionX Corporation (NYSE: CHX) (the “Company” or “ChampionX”) announced the commencement of a cash tender offer (the “Tender Offer”) to purchase its 6.375% Senior Notes due 2026 (the “Notes”) in a principal amount of up to $100,000,000 (the “Tender Cap”), as described in the table below:.
Title of Security.
A sum of 1825154 shares traded at recent session while its average daily volume was at 1.81M shares. ChampionX Corporation shares reached a high of $14.37 and dropped to a low of $13.37 until finishing in the latest session at $14.27.
The one-year CHX stock forecast points to a potential upside of 7.64. The average equity rating for CHX stock is currently 1.80, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on ChampionX Corporation [CHX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CHX shares is $15.45 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CHX stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Cowen have made an estimate for ChampionX Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 30, 2020. While these analysts kept the previous recommendation, Scotiabank raised their target price to Sector Outperform. The new note on the price target was released on September 16, 2020, representing the official price target for ChampionX Corporation stock. Previously, the target price had yet another raise to $13, while Credit Suisse analysts kept a Outperform rating on CHX stock.
The Average True Range (ATR) for ChampionX Corporation is set at 0.86, with the Price to Sales ratio for CHX stock in the period of the last 12 months amounting to 1.82. The Price to Book ratio for the last quarter was 1.78, with the Price to Cash per share for the same quarter was set at 0.94. Price to Free Cash Flow for CHX in the course of the last twelve months was 14.40 with Quick ratio for the last quarter at 1.30.
CHX Stock Performance Analysis:
ChampionX Corporation [CHX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.31. With this latest performance, CHX shares gained by 59.80% in over the last four-week period, additionally plugging by 3.78% over the last 6 months – not to mention a drop of -45.09% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CHX stock in for the last two-week period is set at 71.29, with the RSI for the last a single of trading hit 73.16, and the three-weeks RSI is set at 68.51 for ChampionX Corporation [CHX]. The present Moving Average for the last 50 days of trading for this stock 9.70, while it was recorded at 12.95 for the last single week of trading, and 9.66 for the last 200 days.
Insight into ChampionX Corporation Fundamentals:
ChampionX Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 2.10.
CHX Stock EPS
With the latest financial reports released by the company, ChampionX Corporation posted 0.13/share EPS, while the average EPS was predicted by analysts to be reported at 0.14/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -7.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CHX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ChampionX Corporation go to -12.63%.
ChampionX Corporation [CHX] Insider Position Details
There are presently around $2,849 million, in the hands of institutional investors. The top three institutional holders of CHX stocks are: BLACKROCK INC. with ownership of 21,220,658, which is approximately -7.931% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 18,821,182 shares of the stock with an approximate value of $268.58 million in CHX stocks shares; and BOSTON PARTNERS, currently with $179.59 million in CHX stock with ownership of nearly 25.013% of the company’s market capitalization.
133 institutional holders increased their position in ChampionX Corporation [NYSE:CHX] by around 24,831,656 shares. Additionally, 151 investors decreased positions by around 23,519,636 shares, while 52 investors held positions by with 151,329,921 shares. The mentioned changes placed institutional holdings at 199,681,213 shares, according to the latest SEC report filing. CHX stock had 40 new institutional investments in for a total of 3,467,447 shares, while 47 institutional investors sold positions of 5,101,706 shares during the same period.