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Does NOV Inc (NYSE:NOV) Look Expensive At $17.27? Here’s How To Know.

In last trading session, NOV Inc (NYSE:NOV) saw 21.57 million shares changing hands with its beta currently measuring 1.77. Company’s recent per share price level of $17.27 trading at $0.08 or 0.47% at ring of the bell on the day assigns it a market valuation of $6.80B. That closing price of NOV’s stock is at a discount of -40.19% from its 52-week high price of $24.21 and is indicating a premium of 18.65% from its 52-week low price of $14.05. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 6.82 million shares which gives us an average trading volume of 3.73 million if we extend that period to 3-months.

NOV Inc (NYSE:NOV) trade information

Upright in the green during last session for gaining 0.47%, in the last five days NOV remained trading in the red while hitting it’s week-highest on Friday, 02/02/24 when the stock touched $17.27 price level, adding 13.65% to its value on the day. NOV Inc’s shares saw a change of -14.84% in year-to-date performance and have moved -13.00% in past 5-day. NOV Inc (NYSE:NOV) showed a performance of -11.48% in past 30-days. Number of shares sold short was 12.54 million shares which calculate 3.97 days to cover the short interests.

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NOV Inc (NOV) estimates and forecasts

Statistics highlight that NOV Inc is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -15.71% of value to its shares in past 6 months, showing an annual growth rate of 6.54% while that of industry is 7.90. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to decrease by -9.40% in the current quarter and calculating -2.60% decrease in the next quarter. This year revenue growth is estimated to rise 6.70% from the last financial year’s standing.

20 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $2.13 billion for the same. And 20 analysts are in estimates of company making revenue of $2.25 billion in the next quarter that will end on Jun 2024. Company posted $1.96 billion and $2.09 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 8.60% while estimating it to be 7.60% for the next quarter.

NOV Dividends

NOV Inc is more likely to be releasing its next quarterly report between April 24 and April 29 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

NOV Inc (NYSE:NOV)’s Major holders

Insiders are in possession of 0.70% of company’s total shares while institution are holding 95.04 percent of that, with stock having share float percentage of 95.71%. Investors also watch the number of corporate investors in a company very closely, which is 95.04% institutions for NOV Inc that are currently holding shares of the company. Vanguard Group Inc is the top institutional holder at NOV for having 39.27 million shares of worth $629.94 million. And as of Jun 29, 2023, it was holding 9.97% of the company’s outstanding shares.

The second largest institutional holder is Blackrock Inc., which was holding about 37.39 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 9.49% of outstanding shares, having a total worth of $599.71 million.

On the other hand, First Eagle Global Fund and iShares Core S&P Midcap ETF are the top two Mutual Funds which own company’s shares. As of Jul 30, 2023, the former fund manager was holding 26.91 million shares of worth $540.26 million or 6.83% of the total outstanding shares. The later fund manager was in possession of 12.32 million shares on Sep 29, 2023, making its stake of worth around $257.39 million in the company or a holder of 3.13% of company’s stock.

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