Monthly Drifts in NOV Inc (NOV) Stock: A Closer Look

NOV Inc [NOV] stock prices are down -0.42% to $16.52 at the moment. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The NOV shares have gain 3.44% over the last week, with a monthly amount glided 1.54%, and seem to be holding up well over a long-time horizon.

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From an analyst’s perspective:

NOV Inc [NYSE: NOV] stock has seen the most recent analyst activity on September 25, 2024, when Wells Fargo downgraded its rating to a Underweight and also revised its price target to $16 from $20. Previously, TD Cowen reaffirmed its Buy rating on July 29, 2024, and elevated its price target to $28. On April 29, 2024, TD Cowen reiterated its Buy rating and revised its price target to $26 on the stock. TD Cowen reiterated its Outperform rating and decreased its price target to $30 on February 05, 2024. The Benchmark Company downgraded its rating to a Hold. JP Morgan upgraded its rating to Overweight for this stock on December 08, 2023, and upped its price target to $25. In a note dated October 17, 2023, Barclays downgraded an Underweight rating on this stock but restated the target price of $20.

The stock price of NOV Inc [NOV] has been fluctuating between $15.47 and $21.53 over the past year. Currently, Wall Street analysts expect the stock to reach $19.5 within the next 12 months. NOV Inc [NYSE: NOV] shares were valued at $16.52 at the most recent close of the market. An investor can expect a potential return of 18.04% based on the average NOV price forecast.

Analyzing the NOV fundamentals

The NOV Inc [NYSE:NOV] reported sales of 8.89B for trailing twelve months, representing a surge of 6.08%. Gross Profit Margin for this corporation currently stands at 0.24% with Operating Profit Margin at 0.11%, Pretax Profit Margin comes in at 0.08%, and Net Profit Margin reading is 0.12%. To continue investigating profitability, this company’s Return on Assets is posted at 0.09, Equity is 0.17 and Total Capital is 0.1. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.29.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 16.42 points at the first support level, and at 16.31 for the second support level. However, for the 1st resistance point, the stock is sitting at 16.66, and for the 2nd resistance point, it is at 16.79.

Ratios To Look Out For

It’s worth pointing out that NOV Inc [NYSE:NOV]’s Current Ratio is 2.61. Further, the Quick Ratio stands at 1.64, while the Cash Ratio is 0.37. Considering the valuation of this stock, the price to sales ratio is 0.73, the price to book ratio is 1.02 and price to earnings (TTM) ratio is 6.20.