Transocean Ltd. (NYSE:RIG) is among the top gainers of the stock market today, skyrocketing 2.83% or (0.18 points) to $6.36 from its previous close of $6.18. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 3370312 contracts so far this session. RIG shares had a relatively better volume day versus average trading capacity of 15.99 million shares, but with a 0.58 billion float and a -3.74% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for RIG stock indicates that the average analyst price target is $8.58 per share. This means the stock has a potential increase of 34.91% from where the RIG share price has been trading recently.
During the recent trading session for Transocean Ltd. (NYSE:RIG), the company witnessed their stock drop by $-0.11 over a week and surge $0.25 from the price 20 days ago. When compared to their established 52-week high of $9.79, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 04/23/19. The recent low of $3.76 stood for a -35.09% since 08/15/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.97 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Transocean Ltd., the two-week RSI stands at 53.58. This figure suggests that RIG stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current RIG readings is similarly very revealing as it has a stochastic reading of 18.65% at this stage. This figure means that RIG share price today is being overbought.
Technical chart claims that Transocean Ltd. (RIG) would settle between $6.27/share to $6.37/share level. However, if the stock price goes below the $6.1 mark, then the market for Transocean Ltd. becomes much weaker. If that happens, the stock price might even plunge as low as $6.03 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.2. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Bernstein, assumed coverage of RIG assigning Underperform rating, according to their opinion released on January 14. Deutsche Bank, analysts launched coverage of Transocean Ltd. (NYSE:RIG) stock with a Sell recommendation, according to their flash note issued to investors on November 20. Analysts at RBC Capital Mkts lowered the stock to a Sector Perform call from its previous Outperform recommendation, in a research note that dated back to September 25.
RIG equity has an average rating of 2.73, with the figure leaning towards a bullish end. 25 analysts who tracked the company were contacted by Reuters. Amongst them, 5 rated the stock as a hold while the remaining 20 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 17 analysts rated Transocean Ltd. (NYSE:RIG) as a buy or a strong buy while 3 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Transocean Ltd. (RIG)’s current-quarter revenues are projected to climb by nearly 9.5% to hit $819030, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 4.2% from $3.02 billion to a noteworthy $3.15 billion. At the other end of the current quarter income statement, Transocean Ltd. is expected to see its adjusted earnings surge by roughly 11.8% to hit $-0.3 per share. For the fiscal year, RIG’s earnings are projected to climb by roughly -63.3% to hit $-1.29 per share.