NOV Inc. [NOV] is 15.72% higher this YTD. Is it still time to buy?


NOV Inc. [NYSE: NOV] jumped around 0.45 points on Wednesday, while shares priced at $15.68 at the close of the session, up 2.95%. The company report on July 27, 2022 that NOV Reports Second Quarter 2022 Earnings.

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Revenue of $1.73 billion, up 12% sequentially and 22% year-over-year.

Net Income of $69 million, or $0.18 per fully diluted share.

NOV Inc. stock is now 15.72% up from its year-to-date (YTD) trading value. NOV Stock saw the intraday high of $15.90 and lowest of $15.175 per share. The company’s 52-week high price is 24.06, which means current price is +15.12% above from all time high which was touched on 03/08/22.

Compared to the average trading volume of 3.84M shares, NOV reached a trading volume of 4398661 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about NOV Inc. [NOV]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NOV shares is $21.58 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NOV stock is a recommendation set at 2.50. 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.

Griffin Securities have made an estimate for NOV Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 02, 2022. While these analysts kept the previous recommendation, Citigroup dropped their target price from $22 to $21. The new note on the price target was released on March 14, 2022, representing the official price target for NOV Inc. stock.

The Average True Range (ATR) for NOV Inc. is set at 0.76, with the Price to Sales ratio for NOV stock in the period of the last 12 months amounting to 1.06. The Price to Book ratio for the last quarter was 1.23, with the Price to Cash per share for the same quarter was set at 3.56.

How has NOV stock performed recently?

NOV Inc. [NOV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.57. With this latest performance, NOV shares dropped by -6.05% in over the last four-week period, additionally sinking by -5.26% over the last 6 months – not to mention a rise of 11.52% 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 NOV stock in for the last two-week period is set at 47.22, with the RSI for the last a single of trading hit 52.95, and the three-weeks RSI is set at 45.16 for NOV Inc. [NOV]. The present Moving Average for the last 50 days of trading for this stock 17.45, while it was recorded at 15.21 for the last single week of trading, and 16.61 for the last 200 days.

NOV Inc. [NOV]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and NOV Inc. [NOV] shares currently have an operating margin of -2.26 and a Gross Margin at +14.17. NOV Inc.’s Net Margin is presently recorded at -4.52.

Return on Equity for this stock declined to -4.90, with Return on Assets sitting at -2.51.

NOV Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 2.50.

Earnings analysis for NOV Inc. [NOV]

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 NOV. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for NOV Inc. go to 41.00%.

Insider trade positions for NOV Inc. [NOV]

There are presently around $6,060 million, or 99.90% of NOV stock, in the hands of institutional investors. The top three institutional holders of NOV stocks are: PZENA INVESTMENT MANAGEMENT LLC with ownership of 38,565,035, which is approximately -5.169% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 38,135,711 shares of the stock with an approximate value of $597.97 million in NOV stocks shares; and BLACKROCK INC., currently with $569.56 million in NOV stock with ownership of nearly 6.534% of the company’s market capitalization.

Positions in NOV Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 169 institutional holders increased their position in NOV Inc. [NYSE:NOV] by around 49,645,393 shares. Additionally, 169 investors decreased positions by around 35,449,068 shares, while 79 investors held positions by with 301,399,025 shares. The mentioned changes placed institutional holdings at 386,493,486 shares, according to the latest SEC report filing. NOV stock had 54 new institutional investments in for a total of 10,758,940 shares, while 58 institutional investors sold positions of 10,055,397 shares during the same period.