Transocean Ltd. [RIG] stock Upgrade by Barclays analyst, price target now $5

Transocean Ltd. [NYSE: RIG] plunged by -$0.11 during the normal trading session on Friday and reaching a high of $3.24 during the day while it closed the day at $3.09. The company report on October 3, 2022 that Salunda Limited Executes Exclusive License Agreement with Transocean for HaloGuard® Real-Time Zone Management Technology.

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Salunda Limited today has announced an exclusive license agreement with Transocean (NYSE: RIG) to make, develop and sell HaloGuard®, the offshore drilling industry’s first safety system that integrates camera and sensor technology with drilling equipment and machine controls.

The HaloGuard® system combines real-time location technology together with a machine vision system. The technology is designed to locate personnel on the drill floor during operations. When a crew member comes within a certain distance from working equipment, he or she is notified by an alarm through a wearable device. In the event the crew member remains near the equipment, the system can pause the equipment from moving until that worker returns to a safer, more distant position. By enabling machines with the technology to sense and recognize unauthorized personnel, HaloGuard® provides an advanced layer of individual protection on the drill floor that can, if needed, warn personnel of hazards and pause operations.

Transocean Ltd. stock has also gained 25.10% of its value over the past 7 days. However, RIG stock has inclined by 5.46% in the 3 months of the year. Over the past six months meanwhile, it has lost -28.47% and gained 11.96% year-on date.

The market cap for RIG stock reached $2.26 billion, with 692.00 million shares outstanding and 653.59 million shares in the current float. Compared to the average trading volume of 21.55M shares, RIG reached a trading volume of 32577968 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Transocean Ltd. [RIG]:

Barclays have made an estimate for Transocean Ltd. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 06, 2022. The new note on the price target was released on September 06, 2022, representing the official price target for Transocean Ltd. stock.

The Average True Range (ATR) for Transocean Ltd. is set at 0.21, with the Price to Sales ratio for RIG stock in the period of the last 12 months amounting to 0.89. The Price to Book ratio for the last quarter was 0.19, with the Price to Cash per share for the same quarter was set at 1.00. Price to Free Cash Flow for RIG in the course of the last twelve months was 61.04 with Quick ratio for the last quarter at 1.20.

RIG stock trade performance evaluation

Transocean Ltd. [RIG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 25.10. With this latest performance, RIG shares dropped by -14.17% in over the last four-week period, additionally sinking by -28.47% over the last 6 months – not to mention a drop of -19.53% 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 RIG stock in for the last two-week period is set at 52.34, with the RSI for the last a single of trading hit 57.53, and the three-weeks RSI is set at 49.96 for Transocean Ltd. [RIG]. The present Moving Average for the last 50 days of trading for this stock 3.30, while it was recorded at 2.97 for the last single week of trading, and 3.64 for the last 200 days.

Transocean Ltd. [RIG]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Transocean Ltd. [RIG] shares currently have an operating margin of -1.96 and a Gross Margin at +4.58. Transocean Ltd.’s Net Margin is presently recorded at -23.16.

Return on Equity for this stock declined to -5.23, with Return on Assets sitting at -2.79.

Transocean Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.50.

Transocean Ltd. [RIG]: Insider Ownership positions

There are presently around $1,197 million, or 56.00% of RIG stock, in the hands of institutional investors. The top three institutional holders of RIG stocks are: VANGUARD GROUP INC with ownership of 55,150,263, which is approximately 4.638% of the company’s market cap and around 11.70% of the total institutional ownership; PRIMECAP MANAGEMENT CO/CA/, holding 47,064,306 shares of the stock with an approximate value of $145.43 million in RIG stocks shares; and VAN ECK ASSOCIATES CORP, currently with $102.42 million in RIG stock with ownership of nearly -4.997% of the company’s market capitalization.

Positions in Transocean Ltd. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 130 institutional holders increased their position in Transocean Ltd. [NYSE:RIG] by around 35,073,320 shares. Additionally, 157 investors decreased positions by around 33,246,004 shares, while 97 investors held positions by with 318,935,588 shares. The mentioned changes placed institutional holdings at 387,254,912 shares, according to the latest SEC report filing. RIG stock had 51 new institutional investments in for a total of 14,567,941 shares, while 51 institutional investors sold positions of 8,117,978 shares during the same period.


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