An interesting stock that came up in some of our conversations today is Noble Midstream Partners LP (NASDAQ:NBLX). At current price of $3.61, the shares have already added 0.4 points (12.47% higher) from its previous close of $3.21. Should you buy or avoid them? The stock sets an active trading volume day with a reported 379374 contracts so far this session. NBLX shares had a relatively better volume day versus average trading capacity of 684.54 thousand shares, but with a 33.61 million float and a 1.9% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for NBLX stock indicates that the average analyst price target is $16.57 per share. This means the stock has a potential increase of 359% from where the NBLX share price has been trading recently.
During the recent trading session for Noble Midstream Partners LP (NASDAQ:NBLX), the company witnessed their stock rise $0.42 over a week and tumble down $-11.95 from the price 20 days ago. When compared to their established 52-week high of $40.3, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 04/25/19. The recent low of $1.81 stood for a -91.04% since 03/18/20, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.72 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 Noble Midstream Partners LP, the two-week RSI stands at 23.45. This figure suggests that NBLX stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current NBLX readings is similarly very revealing as it has a stochastic reading of 15.42% at this stage. This figure means that NBLX share price today is being overbought.
Technical chart claims that Noble Midstream Partners LP (NBLX) would settle between $3.82/share to $4.44/share level. However, if the stock price goes below the $2.77 mark, then the market for Noble Midstream Partners LP becomes much weaker. If that happens, the stock price might even plunge as low as $2.34 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.3. 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 Robert W. Baird lowered their recommendation on shares of NBLX from Outperform to Neutral in their opinion released on February 13. Barclays analysts have lowered their rating of Noble Midstream Partners LP (NASDAQ:NBLX) stock from Overweight to Equal Weight in a separate flash note issued to investors on January 14. Analysts at Robert W. Baird released an upgrade from Neutral to Outperform for the stock, in a research note that dated back to December 03.
NBLX equity has an average rating of 3, with the figure leaning towards a bullish end. 7 analysts who tracked the company were contacted by Reuters. Amongst them, 7 rated the stock as a hold while the remaining 0 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 0 analysts rated Noble Midstream Partners LP (NASDAQ:NBLX) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, NBLX stock price is currently trading at 1.06X forward 12-month Consensus EPS estimates, and its P/E ratio is 0.8 while for the average stock in the same group, the multiple is 11.2. Noble Midstream Partners LP current P/B ratio of 0.4 means it is trading at a discount against its industry’s 1.1.
Noble Midstream Partners LP (NBLX)’s current-quarter revenues are projected to climb by nearly 26.3% to hit $179220, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 5.6% from $703800 to a noteworthy $743320. At the other end of the current quarter income statement, Noble Midstream Partners LP is expected to see its adjusted earnings surge by roughly -44.6% to hit $0.56 per share. For the fiscal year, NBLX’s earnings are projected to climb by roughly -18.9% to hit $2.58 per share.