NOV Inc [NYSE: NOV] stock went on an upward path that rose over 2.54% on Monday, amounting to a one-week price increase of more than 4.09%.
Over the last 12 months, NOV stock rose by 16.85%. The one-year NOV Inc stock forecast points to a potential upside of 18.46. The average equity rating for NOV stock is currently 2.04, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $7.62 billion, with 393.95 million shares outstanding and 391.32 million shares in the current float. Compared to the average trading volume of 4.59M shares, NOV stock reached a trading volume of 6322362 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $23.73 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 2.04. 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 Buy, with their previous recommendation back on Apr-30-24. While these analysts kept the previous recommendation, TD Cowen dropped their target price from $31 to $30. The new note on the price target was released on February 05, 2024, representing the official price target for NOV Inc stock. On December 08, 2023, analysts increased their price target for NOV shares from 22 to 25.
The Average True Range (ATR) for NOV Inc is set at 0.58, with the Price to Sales ratio for NOV stock in the period of the last 12 months amounting to 0.87. 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 1.19.
NOV Stock Performance Analysis:
NOV Inc [NOV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.09. With this latest performance, NOV shares dropped by -0.87% in over the last four-week period, additionally plugging by 1.31% over the last 6 months – not to mention a rise of 16.85% 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 54.78, with the RSI for the last a single of trading hit 57.18, and the three-weeks RSI is set at 53.94 for NOV Inc [NOV]. The present Moving Average for the last 50 days of trading for this stock 18.60, while it was recorded at 18.97 for the last single week of trading, and 19.48 for the last 200 days.
Insight into NOV Inc Fundamentals:
NOV Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 2.50.
NOV Stock EPS
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%.
NOV Inc [NOV] Institutonal Ownership Details
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%.
