NOV Inc. [NOV] Stock trading around $15.52 per share: What’s Next?

NOV Inc. [NYSE: NOV] traded at a high on 05/23/23, posting a 1.50 gain after which it closed the day’ session at $15.52. The company report on May 8, 2023 at 8:23 AM that Borets International rebrands to Levare International and announces appointment of new Chief Executive Officer and Chairman.

Borets International Limited, a global leader in artificial lift engineering, manufacturing, sales, and servicing of electric submersible pumps (ESP), announced the growing and evolving Company has undergone restructuring to reach this exciting juncture where the international business is a distinct and separate division. Accordingly, the rebranding of the company to Levare International Limited (Levare or Company) better aligns with the forward-thinking mindset of new leadership.  This change reflects our growing portfolio of artificial lift solutions offered to our global clients within the oil & gas, mining, geothermal and municipal industries.

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“Levare”, meaning ‘lift’ in Latin, embodies the Company’s strategic blueprint for growth, the Company’s vision of natural resource inclusion and its commitment to uplifting its employees, customers and other stakeholders to a culture of innovation, investment and diversification.  The focus on product quality and customer satisfaction, as well as the values of transparency, versatility, inclusion and reliability remain intact, but with an intentional approach on trust and transformation. The Company also plans to extend its international footprint and technical support with the establishment of its Monterrey manufacturing center in Q3, 2023.  The new facility allows Levare to have a secure and independent supply chain as we expand our business into the green Geothermal sector, as well as the Mining and Municipal markets.

The results of the trading session contributed to over 4648041 shares changing hands. Over the past one week, the price volatility of NOV Inc. stands at 3.23% while the volatility over the past one month is 3.66%.

The market cap for NOV stock reached $6.14 billion, with 392.00 million shares outstanding and 390.23 million shares in the current float. Compared to the average trading volume of 4.86M shares, NOV reached a trading volume of 4648041 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 $25.44 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 2.20. 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.

The Average True Range (ATR) for NOV Inc. is set at 0.60, with the Price to Sales ratio for NOV stock in the period of the last 12 months amounting to 0.80. The Price to Book ratio for the last quarter was 1.16, with the Price to Cash per share for the same quarter was set at 1.96.

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 6.52. With this latest performance, NOV shares dropped by -17.45% in over the last four-week period, additionally sinking by -31.48% over the last 6 months – not to mention a drop of -13.92% 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 41.46, with the RSI for the last a single of trading hit 47.07, and the three-weeks RSI is set at 39.51 for NOV Inc. [NOV]. The present Moving Average for the last 50 days of trading for this stock 17.23, while it was recorded at 15.22 for the last single week of trading, and 19.73 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 +3.53 and a Gross Margin at +18.32. NOV Inc.’s Net Margin is presently recorded at +2.14.

Return on Total Capital for NOV is now 3.41, given the latest momentum, and Return on Invested Capital for the company is 2.12. Return on Equity for this stock inclined to 3.07, with Return on Assets sitting at 1.55. When it comes to the capital structure of this company, NOV Inc. [NOV] has a Total Debt to Total Equity ratio set at 46.43. Additionally, NOV Total Debt to Total Capital is recorded at 31.71, with Total Debt to Total Assets ending up at 23.02. Long-Term Debt to Equity for the company is recorded at 44.47, with the Long-Term Debt to Total Capital now at 30.37.

Reflecting on the efficiency of the workforce at the company, NOV Inc. [NOV] managed to generate an average of $4,798 per employee. Receivables Turnover for the company is 3.44 with a Total Asset Turnover recorded at a value of 0.72.NOV Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 2.30.

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 36.00%.

Insider trade positions for NOV Inc. [NOV]


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