A share of NOW Inc. (NYSE:DNOW) closed at $11.27 per share on Thursday, down from $11.48 day before. While NOW Inc. has underperformed by -1.83%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, DNOW rose by 39.65%, with highs and lows ranging from $12.55 to $6.83, whereas the simple moving average jumped by 15.38% in the last 200 days.
Top 5 Cheap Stocks to Own Right Now
While finding safe stocks with the potential for monster gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Cheap Stock to Own Right Now", we have identified five stocks we believe could appreciate the most even if you just have $1,000 to invest.
Sign up here to get your free report now. .
On July 08, 2022, The Benchmark Company started tracking NOW Inc. (NYSE: DNOW) recommending Buy. A report published by Stephens on November 04, 2021, Upgraded its rating to ‘Overweight’ for DNOW. Stifel also Upgraded DNOW shares as ‘Buy’, setting a target price of $12 on the company’s shares in a report dated July 16, 2021. Cowen resumed its ‘Outperform’ rating for DNOW, as published in its report on February 18, 2021. Stephens’s report from October 16, 2020 suggests a price prediction of $5 for DNOW shares, giving the stock a ‘Equal-Weight’ rating. Northland Capital also rated the stock as ‘Outperform’.
Analysis of NOW Inc. (DNOW)
Further, the quarter-over-quarter increase in sales is 31.00%, showing a positive trend in the upcoming months.
NOW Inc.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of 6.30% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.60, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and DNOW is registering an average volume of 737.84K. On a monthly basis, the volatility of the stock is set at 3.81%, whereas on a weekly basis, it is put at 4.36%, with a gain of 4.26% over the past seven days. Furthermore, long-term investors anticipate a median target price of $13.30, showing growth from the present price of $11.27, which can serve as yet another indication of whether DNOW is worth investing in or should be passed over.
How Do You Analyze NOW Inc. Shares?
A giant in the Oil & Gas Equipment & Services market, NOW Inc. (DNOW) is based in the USA. When comparing NOW Inc. shares with other companies under Energy, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 27.69, there is a growth in quarterly earnings of 397.30%.
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.30%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 97.70% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in DNOW shares?
The recent increase in stakes in DNOW appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in DNOW has decreased by -0.22% in the first quarter. The company now owns 16,351,564 shares of the stock, with a value of $159.92 million, following the sale of -36,495 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in DNOW during the first quarter, upping its stake by 3.47%. During the last quarter, the company picked up 419,299 additional shares for a total stake of worth $122.18 million, bringing number of shares owned by the company to 12,492,586.
During the first quarter, Renaissance Technologies LLC added a 105,253 position in DNOW. Dimensional Fund Advisors LP sold an additional -0.24 million shares in the last quarter, decreasing its holdings by -5.01%, now holding 4.61 million shares worth $45.06 million. At the end of the first quarter, SSgA Funds Management, Inc. increased its DNOW holdings by 2.53% and now holds 3.97 million DNOW shares valued at $38.82 million with the added 97972.0 shares during the period. DNOW shares are owned by institutional investors to the tune of 97.70% at present.