The price of Transocean Ltd (NYSE:RIG) shares last traded on Wall Street fell -7.90% to $5.71.
RIG stock price is now -4.62% away from the 50-day moving average and -10.65% away from the 200-day moving average. The market capitalization of the company currently stands at $4.68B.
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With the price target enhanced from $5.50 to $9, Susquehanna Upgraded its rating from Neutral to Positive for Transocean Ltd (NYSE: RIG). On November 28, 2023, CapitalOne recently initiated its ‘Equal Weight’ rating on the stock quoting a target price of $8, while ‘Citigroup’ rates the stock as ‘Buy’
In other news, Perestroika (Cyprus) Ltd, Director bought 2,000,000 shares of the company’s stock on May 15 ’24. The stock was bought for $12,020,000 at an average price of $6.01. Upon completion of the transaction, the Director now directly owns 87,574,894 shares in the company, valued at $500.05 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 15 ’24, Director Mohn Frederik Wilhelm bought 2,000,000 shares of the business’s stock. A total of $12,020,000 was incurred on buying the stock at an average price of $6.01. This leaves the insider owning 87,574,894 shares of the company worth $500.05 million. A total of 12.11% of the company’s stock is owned by insiders.
During the past 12 months, Transocean Ltd has had a low of $4.45 and a high of $8.88. As of last week, the company has a debt-to-equity ratio of 0.69, a current ratio of 1.35, and a quick ratio of 1.04. The fifty day moving average price for RIG is $5.9798 and a two-hundred day moving average price translates $6.37855 for the stock.
The latest earnings results from Transocean Ltd (NYSE: RIG) was released for 2024-03-31. The net profit margin was -13.27% and return on equity was -3.75% for RIG. The company reported revenue of $763.0 million for the quarter, compared to $649.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 17.57 percent.
