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. NOV Inc. shares valued at $452,919 were sold by MATTSON ERIC L on Feb 28. At $21.90 per share, MATTSON ERIC L sold 20,681 shares. The insider’s holdings dropped to 46,600 shares worth approximately $0.71 million following the completion of this transaction.
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Also, Novak Christy Lynn sold 9,607 shares, netting a total of over 210,019 in proceeds. Following the sale of shares at $21.86 each, the insider now holds 84,600 shares.
Before that, Novak Christy Lynn had sold 4,575 shares from its account. In a trade valued at $106,011, the VP, Corp. Controller, CAO traded NOV Inc. shares for $23.17 each. Upon closing the transaction, the insider’s holdings decreased to 4,575 shares, worth approximately $0.98 million.
Analyzing NOV Stock Performance
On Thursday, NOV Inc. [NYSE: NOV] plunged -2.62% to $15.22. The stock’s lowest price that day was $15.02, but it reached a high of $15.405 in the same session. During the last five days, there has been a surge of approximately 0.20%. Over the course of the year, NOV Inc. shares have dropped approximately -27.14%. Shares of the company reached a 52-week high of $24.83 on 01/27/23 and a 52-week low of $14.46 on 05/16/23. A 50-day SMA is recorded $17.10, while a 200-day SMA reached $19.71. Nevertheless, trading volume fell to 5.05 million shares from 3.18 million shares the previous day.
Support And Resistance Levels for NOV Inc. (NOV)
According to the 24-hour chart, there is a support level at 15.03, which, if violated, would cause prices to drop to 14.83. In the upper region, resistance lies at 15.41. The next price resistance is at 15.60. RSI (Relative Strength Index) is 38.84 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.19, which suggests the price will decrease in the coming days. Percent R is at 53.37%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is NOV Inc. subject to short interest?
Stocks of NOV Inc. saw a sharp rise in short interest on Apr 27, 2023 jumping by 0.0 shares to 12.2 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2023 was 12.2 million shares.
Which companies own the most shares of NOV Inc. (NOV)?
According to The Vanguard Group, Inc. filings, the company currently owns 38,413,934 shares, which is about 9.78% of the total NOV shares outstanding. The investor’s shares have plunged by -215,153 from its previous 13-F filing of 38629087.0 shares. With the completion of the buy transaction, First Eagle Investment Management’s stake is now worth $623,058,996. BlackRock Fund Advisors reduced a -0.22% interest valued at $542.09 million while Pzena Investment Management LLC sold a -37,476 stake. A total of 653,680 shares of NOV Inc. were sold by Hotchkis & Wiley Capital Manageme during the quarter, and 600,924 were bought by SSgA Funds Management, Inc. In its current portfolio, Threadneedle Asset Management Ltd holds 13,210,007 shares valued at $221.27 million.
In terms of NOV Inc. share price expectations, FactSet research, analysts set an average price target of $24.48 in the next 12 months, up nearly 59.95% from the previous closing price of $15.63. Analysts anticipate NOV Inc. stock to reach $30.00 by 2023, with the lowest price target being $17.00. In spite of this, 25 analysts ranked NOV Inc. stock as an Overweight at the end of 2023.