Noble Corp Plc (NYSE: NE) is -27.80% lower on its value in year-to-date trading and has touched a low of $33.75 and a high of $54.87 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The NE stock was last observed hovering at around $34.19 in the last trading session, with the day’s gains setting it 0.58%.
Currently trading at $34.77, the stock is -6.21% and -16.30% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.44 million and changing 1.70% at the moment leaves the stock -21.96% off its SMA200. NE registered -33.77% loss for a year compared to 6-month loss of -23.57%.
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The stock witnessed a -12.37% gain in the last 1 month and extending the period to 3 months gives it a -21.97%, and is -1.19% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.15% over the week and 3.10% over the month.
Noble Corp Plc (NE) has around 5300 employees, a market worth around $5.82B and $2.67B in sales. Current P/E ratio is 8.47 and Fwd P/E is 6.88. Profit margin for the company is 22.41%. Distance from 52-week low is 3.02% and -36.63% from its 52-week high. The company has generated returns on investments over the last 12 months (12.99%).
The EPS is expected to grow by 1.94% this year
398.0 institutions hold shares in Noble Corp Plc (NE), with institutional investors hold 78.51% of the company’s shares. The shares outstanding are 140.77M, and float is at 129.83M with Short Float at 7.76%. Institutions hold 63.58% of the Float.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 11.95 million shares valued at $533.44 million. The investor’s holdings represent 8.4698 of the NE Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 8.43 million shares valued at $376.28 million to account for 5.9745 of the shares outstanding. The other top investors are ORBIS ALLAN GRAY LTD which holds 7.59 million shares representing 5.3836 and valued at over $339.06 million, while PRICE T ROWE ASSOCIATES INC /MD/ holds 3.8084 of the shares totaling 5.37 million with a market value of $239.86 million.
Noble Corp Plc (NE) Insider Activity
The most recent transaction is an insider purchase by APMH Invest A/S, the company’s 10% Owner. SEC filings show that APMH Invest A/S bought 324,984 shares of the company’s common stock on Jul 12 ’24 at a price of $45.53 per share for a total of $14.8 million. Following the purchase, the insider now owns 28.92 million shares.
Noble Corp Plc disclosed in a document filed with the SEC on Jul 11 ’24 that APMH Invest A/S (10% Owner) bought a total of 208,589 shares of the company’s common stock. The trade occurred on Jul 11 ’24 and was made at $44.35 per share for $9.25 million. Following the transaction, the insider now directly holds 28.59 million shares of the NE stock.
Still, SEC filings show that on Jul 15 ’24, APMH Invest A/S (10% Owner) acquired 104,445 shares at an average price of $46.63 for $4.87 million. The insider now directly holds 29,020,703 shares of Noble Corp Plc (NE).
