Noble Corporation (NE) Short Interest Up 21.6% in January

Noble Corporation (NE) Short Interest Up 21.6% in January

Noble Corporation (NYSE:NE) saw a significant growth in short interest during the month of January. As of January 13th, there was short interest totalling 52,148,119 shares, a growth of 21.6% from the December 30th total of 42,891,933 shares. Approximately 21.6% of the shares of the company are sold short. Based on an average daily trading volume, of 13,284,067 shares, the short-interest ratio is presently 3.9 days.

NE has been the topic of several recent analyst reports. Societe Generale cut Noble Corporation from a “buy” rating to a “hold” rating and dropped their price objective for the company from $10.00 to $7.00 in a research report on Monday, October 3rd. Zacks Investment Research cut Noble Corporation from a “hold” rating to a “sell” rating in a research report on Monday, October 3rd. Vetr raised Noble Corporation from a “buy” rating to a “strong-buy” rating and set a $6.92 price objective on the stock in a research report on Monday, October 3rd. Seaport Global Securities cut Noble Corporation from an “accumulate” rating to a “neutral” rating and set a $6.00 price objective on the stock. in a research report on Friday, October 7th. Finally, J P Morgan Chase & Co reaffirmed a “sell” rating on shares of Noble Corporation in a research report on Friday, November 4th. Eight research analysts have rated the stock with a sell rating, sixteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Noble Corporation currently has an average rating of “Hold” and an average price target of $7.93.

A number of institutional investors have recently modified their holdings of NE. LS Investment Advisors LLC boosted its position in shares of Noble Corporation by 5.6% in the third quarter. LS Investment Advisors LLC now owns 15,695 shares of the company’s stock worth $100,000 after buying an additional 834 shares during the last quarter. Global Endowment Management LP purchased a new position in shares of Noble Corporation during the third quarter worth approximately $100,000. Capstone Investment Advisors LLC purchased a new position in shares of Noble Corporation during the second quarter worth approximately $102,000. Acadian Asset Management LLC boosted its position in shares of Noble Corporation by 1,343.9% in the third quarter. Acadian Asset Management LLC now owns 16,114 shares of the company’s stock worth $102,000 after buying an additional 14,998 shares during the last quarter. Finally, Advisor Group Inc. boosted its position in shares of Noble Corporation by 112.7% in the third quarter. Advisor Group Inc. now owns 15,989 shares of the company’s stock worth $102,000 after buying an additional 8,472 shares during the last quarter. Institutional investors own 88.09% of the company’s stock.

Noble Corporation (NYSE:NE) opened at 7.20 on Monday. Noble Corporation has a one year low of $4.45 and a one year high of $13.90. The stock has a market cap of $1.75 billion, a PE ratio of 8.34 and a beta of 2.20. The stock has a 50 day moving average price of $6.88 and a 200-day moving average price of $6.34.

Noble Corporation (NYSE:NE) last issued its quarterly earnings results on Thursday, November 3rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by $0.04. The business had revenue of $385.20 million for the quarter, compared to analysts’ expectations of $646.42 million. Noble Corporation had a return on equity of 2.14% and a net margin of 7.90%. The business’s revenue for the quarter was down 57.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 EPS. Equities research analysts expect that Noble Corporation will post ($0.13) earnings per share for the current fiscal year.

Noble Corporation Company Profile

Noble Corporation is an offshore drilling contractor for the oil and gas industry. The Company performs contract drilling services with its fleet of 79 mobile offshore drilling units and one floating production storage and offloading unit (NYSE:NE) located globally.

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