10% Owner PACIFIC INVESTMENT MANAGEMENT sold 106,303 shares of Noble Corporation [NE]

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Noble Corporation shares valued at $3,385,751 were sold by PACIFIC INVESTMENT MANAGEMENT on Sep 19. At $31.85 per share, PACIFIC INVESTMENT MANAGEMENT sold 106,303 shares. The insider’s holdings dropped to 18,023,228 shares worth approximately $540.16 million following the completion of this transaction.

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Also, PACIFIC INVESTMENT MANAGEMENT sold 193,697 shares, netting a total of over 6,335,829 in proceeds. Following the sale of shares at $32.71 each, the insider now holds 18,129,531 shares.

Before that, PACIFIC INVESTMENT MANAGEMENT had sold 119,826 shares from its account. In a trade valued at $4,020,162, the 10% Owner traded Noble Corporation shares for $33.55 each. Upon closing the transaction, the insider’s holdings decreased to 119,826 shares, worth approximately $549.15 million.

As published in a research note from BTIG Research on June 01, 2022, Noble Corporation [NE] has been rated up from a Neutral to a Buy and the price target has been revised to $60. This represents a 50.05% premium over Wednesday’s closing price.

Analyzing NE’s Price Performance

On Wednesday, Noble Corporation [NYSE: NE] plunged -2.57% to $29.97. The stock’s lowest price that day was $29.80, but it reached a high of $31.42 in the same session. During the last five days, there has been a drop of approximately -12.75%. Over the course of the year, Noble Corporation shares have jumped approximately 20.80%. Shares of the company reached a 52-week high of $38.59 on 06/01/22 and a 52-week low of $22.64 on 07/06/22. A 50-day SMA is recorded $30.25, while a 200-day SMA reached $29.66. Nevertheless, trading volume fell to 1.31 million shares from 0.85 million shares the previous day.

Support And Resistance Levels for Noble Corporation (NE)

According to the 24-hour chart, there is a support level at 29.37, which, if violated, would cause prices to drop to 28.78. In the upper region, resistance lies at 30.99. The next price resistance is at 32.02. RSI (Relative Strength Index) is 42.98 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.21, which suggests the price will decrease in the coming days. Percent R is at 81.78%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Noble Corporation subject to short interest?

Stocks of Noble Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.61 million shares to 4.85 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.24 million shares. A jump of 12.58% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.84 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.84.

Which companies own the most shares of Noble Corporation (NE)?

According to Pacific Investment Management Co filings, the company currently owns 18,692,352 shares, which is about 27.88% of the total NE shares outstanding. The investor’s shares have plunged by -4,049,790 from its previous 13-F filing of 22742142.0 shares. With the completion of the sale transaction, GoldenTree Asset Management LP’s stake is now worth $98,424,959. Elliott Investment Management LP acquire a 9.45% interest valued at $86.5 million while Contrarius Investment Management sold a -41,114 stake. A total of 1,720,955 shares of Noble Corporation were sold by BlackRock Fund Advisors during the quarter, and 471,885 were bought by The Vanguard Group, Inc. In its current portfolio, Canyon Capital Advisors LLC holds 2,292,118 shares valued at $69.57 million.


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