The stock of Pacific Drilling S.A. (NYSE:PACD) is now priced at $0.25 and the shares are -0.01 points down or -4.44% lower compared to its previous closing price of $0.26. The stock had 4.369 million contracts set over the past session. PACD shares’ daily volume is compared to its average trading volume at 7.939 million shares. However, it has a float of 70.81 million and although its performance was -1.42% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the PACD share price recently placing at $0.245 to $0.261.
The shorts are running away from the Pacific Drilling S.A. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the PACD shares have declined. Short interest in the stock represents just 4.98% of its float, but the volume has dropped by 0.
In the last trading session, Pacific Drilling S.A. (NYSE:PACD) dropped by -$0.0036 over the week and lost -$0.1918 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $6.89. The stock recorded its established 52-week high on 09/16/19.
Since 08/20/20, the stock has traded to a low of $0.24 at 3.92%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.61. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Pacific Drilling S.A.’s two-week RSI is 31.64. This suggests that the stock is neutral at the moment and that PACD shares’ price movement remains stable. The stochastic readings are equally revealing at 8.29% meaning the PACD share price is currently in overbought territory.
The technical chart shows that the PACD stock will likely settle at between $0.2586 and $0.2678 per share. However, if the stock dips below $0.2426, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.2358.
Currently, the stock is trading in the red of MACD, with a reading of -0.004. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Evercore ISI cut their recommendation for PACD from Outperform to Underperform in March 09 review.
The average rating for the PACD equity is 3.33 and is currently gathering a bearish momentum. Of 1 analysts tracking Pacific Drilling S.A. polled by Reuters, 0 rated PACD as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Pacific Drilling S.A. (NYSE:PACD) will decrease by about -99.91%, which will see them reach $34.33 million. The company’s full-year revenues are, however, expected to diminish by about -19.05%, down from $230 million to $186 million. PACD’s expected adjusted earnings should drop almost -23.14% to end up at -$0.93 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -48.11% to record -$3.85/share.