Shares of Noble Co. PLC (NYSE:NE) were up 30% on Wednesday . The company traded as high as $1.10 and last traded at $1.04, approximately 11,928,494 shares traded hands during trading. An increase of 182% from the average daily volume of 4,236,438 shares. The stock had previously closed at $0.80.

A number of equities research analysts recently weighed in on NE shares. Capital One Financial restated an “equal weight” rating on shares of Noble in a research report on Friday, February 7th. HSBC lowered Noble from a “buy” rating to a “reduce” rating in a research report on Friday, December 6th. Fearnley Fonds lowered Noble from a “reduce” rating to a “sell” rating in a research report on Monday, October 21st. ValuEngine upgraded Noble from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Evercore ISI initiated coverage on Noble in a research note on Friday, February 7th. They set a “buy” rating and a $1.00 price target on the stock. Eight research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Noble presently has a consensus rating of “Hold” and a consensus price target of $2.21.

The company has a market capitalization of $237.04 million, a P/E ratio of -0.32 and a beta of 2.63. The firm’s fifty day moving average is $1.05 and its 200 day moving average is $1.29. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.58 and a current ratio of 0.58.

A number of hedge funds have recently modified their holdings of NE. Quantbot Technologies LP purchased a new stake in Noble during the fourth quarter valued at approximately $41,000. Tower Research Capital LLC TRC lifted its position in Noble by 506.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 40,031 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 33,428 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in Noble during the third quarter valued at approximately $56,000. World Asset Management Inc lifted its position in Noble by 40.0% during the third quarter. World Asset Management Inc now owns 63,984 shares of the oil and gas company’s stock valued at $81,000 after acquiring an additional 18,289 shares during the last quarter. Finally, Guggenheim Capital LLC purchased a new stake in Noble during the fourth quarter valued at approximately $100,000. Institutional investors and hedge funds own 81.46% of the company’s stock.

Noble Company Profile (NYSE:NE)

Noble Corporation plc operates as an offshore drilling contractor for the oil and gas industry worldwide. It provides contract drilling services using mobile offshore drilling units. As of December 31, 2018, the company operated a fleet of 24 drilling rigs consisted of 8 drill ships, 4 semisubmersibles, and 12 jack ups.

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