For NOV Inc [NOV], Analyst sees a drop to $30. What next?

NOV Inc [NYSE: NOV] loss -0.85% or -0.16 points to close at $18.59 with a heavy trading volume of 6255680 shares.

The daily chart for NOV points out that the company has recorded -9.76% loss over the past six months.

If we look at the average trading volume of 4.52M shares, NOV reached to a volume of 6255680 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 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 $23.64 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 2.08. 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.

TD Cowen have made an estimate for NOV Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 05, 2024. The new note on the price target was released on January 16, 2024, representing the official price target for NOV Inc stock. Previously, the target price had yet another raise from $22 to $25, while JP Morgan kept a Overweight rating on NOV stock.

The Average True Range (ATR) for NOV Inc is set at 0.52, with the Price to Sales ratio for NOV stock in the period of the last 12 months amounting to 0.85. The Price to Book ratio for the last quarter was 1.19, with the Price to Cash per share for the same quarter was set at 2.07.

Trading performance analysis for NOV stock

NOV Inc [NOV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.03. With this latest performance, NOV shares dropped by -3.93% in over the last four-week period, additionally sinking by -9.76% over the last 6 months – not to mention a rise of 0.70% 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 41.29, with the RSI for the last a single of trading hit 34.09, and the three-weeks RSI is set at 45.29 for NOV Inc [NOV]. The present Moving Average for the last 50 days of trading for this stock 18.43, while it was recorded at 18.63 for the last single week of trading, and 19.45 for the last 200 days.

NOV Inc [NOV]: A deeper dive into fundamental analysis

NOV Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.51 and a Current Ratio set at 2.40.

NOV Inc [NOV]: An earnings per share (EPS) analysis

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 32.30%.

An analysis of Institutional ownership at NOV Inc [NOV]

The top three institutional holders of NOV stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in NOV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in NOV stock with ownership which is approximately 5.8386%.

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