Evercore ISI has recently reduced Nov Inc (NOV) stock rating, as announced on January 15, 2025, according to Finviz. Earlier, on January 6, 2025, Seaport Research Partners had reduced the stock from a Buy to Neutral. Piper Sandler also initiated Neutral rating with a price target of $17. Additionally, Citigroup reduced Neutral rating on November 11, 2024, with a target price of $18. TD Cowen analysts, in their report published on October 28, 2024, also reiterated Buy rating and set a price target of $28 for Nov Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
Nov Inc (NOV) Stock Trading Recap
On Friday, Nov Inc (NOV) stock saw a decline, ending the day at $15.54 which represents a decrease of $-0.39 or -2.45% from the prior close of $15.93. The stock opened at $16.04 and touched a low of $15.48 during the day, reaching a high of $16.3. The volume of shares traded was 5.14 million exceeding the average volume of 4.18 million.
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NOV Stock Performance and Moving Averages
In recent trading, Nov Inc (NOV) stock price has shown some volatility, fluctuating -0.51% over the last five trades and 2.44% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by -11.55%, and it has plunged by -6.05% in the previous three months. Currently, NOV is trading at 2.12%, 3.67%, and -7.53% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, NOV, a Energy sector stock, is trading -26.70% below its 52-week high but remains 11.44% above its 52-week low. The Average True Range (ATR) (14 days) of 0.56 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Nov Inc’s Profitability and Valuation Ratios
Nov Inc’s profitability metrics reveal financial health. The company currently boasts an operating margin of 11.37% and a profit margin of 7.16%, with a gross margin of -11.55%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Nov Inc’s market capitalization stands at $6.05 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 9.66, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 9.39. Additionally, the Price-to-Sales Ratio is 0.68, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 0.94, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 0.76% of Nov Inc (NOV)’s shares, while financial institutions hold 98.72%.
Notable insider trades include Livingston Scott B., See Remarks at Nov Inc (NOV), who sold 29410 shares on Nov 07 ’24, at $16.49 each, totaling $0.49 million. On Nov 07 ’24, Rovig Joseph W, President – Energy Equipment, sold 73256 shares for $16.4 each, amounting to $1.20 million. Additionally, on Nov 07 ’24, Novak Christy Lynn sold 40953 shares at $16.44 each, generating $0.67 million.
