Transocean Ltd [RIG] moved up 1.94: Why It’s Important

Transocean Ltd [NYSE: RIG] gained 1.94% or 0.1 points to close at $5.25 with a heavy trading volume of 17552577 shares.

The daily chart for RIG points out that the company has recorded -35.02% loss over the past six months.

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If we look at the average trading volume of 16.92M shares, RIG reached to a volume of 17552577 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Transocean Ltd [RIG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RIG shares is $7.15 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RIG stock is a recommendation set at 2.47. 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.

CapitalOne have made an estimate for Transocean Ltd shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on November 28, 2023. While these analysts kept the previous recommendation, Citigroup raised their target price from $6.50 to $9.50. The new note on the price target was released on July 05, 2023, representing the official price target for Transocean Ltd stock. Previously, the target price had yet another raise to $7.50, while Compass Point analysts kept a Buy rating on RIG stock.

The Average True Range (ATR) for Transocean Ltd is set at 0.23, with the Price to Sales ratio for RIG stock in the period of the last 12 months amounting to 1.50. The Price to Book ratio for the last quarter was 0.41, with the Price to Cash per share for the same quarter was set at 1.23.

Trading performance analysis for RIG stock

Transocean Ltd [RIG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.14. With this latest performance, RIG shares gained by 5.63% in over the last four-week period, additionally sinking by -35.02% over the last 6 months – not to mention a drop of -26.06% 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 54.66, with the RSI for the last a single of trading hit 62.99, and the three-weeks RSI is set at 50.02 for Transocean Ltd [RIG]. The present Moving Average for the last 50 days of trading for this stock 5.39, while it was recorded at 5.15 for the last single week of trading, and 6.77 for the last 200 days.

Transocean Ltd [RIG]: A deeper dive into fundamental analysis

Transocean Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.22 and a Current Ratio set at 1.52.

An analysis of Institutional ownership at Transocean Ltd [RIG]

The top three institutional holders of RIG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in RIG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in RIG stock with ownership which is approximately 5.8325%.