Precision Drilling Stock Price Down 2.6 percent Should You Sell?
| PDS Stock | USD 58.63 0.43 0.73% |
Slightly above 61% of Precision Drilling's investor base is looking to short. The analysis of overall sentiment of trading Precision Drilling stock suggests that many investors are alarmed at this time. Precision Drilling's investing sentiment can be driven by a variety of factors including economic data, Precision Drilling's earnings reports, geopolitical events, and overall market trends.
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Shares of Precision Drilling Co. were down 2.6 percent on Monday . The company traded as low as 56.69 and last traded at 57.30. Approximately 7,558 shares traded hands during trading, a decline of 89 percent from the average daily volume of 66,000 shares. The stock had previously closed at 58.85.
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Precision Drilling Investor Sentiment by Other News Outlets
Investor sentiment, mood or attitude towards Precision Drilling can have a significant impact on its stock price or the market as a whole. This sentiment can be positive or negative, and various factors, such as economic indicators, news events, or market trends, can influence it. When investor sentiment is positive, investors are more likely to buy stocks, increasing demand and increasing the stock price. Positive investor sentiment can be driven by good news about the company or the broader market, such as solid earnings reports or positive economic data.
Note that negative investor sentiment can cause investors to sell stocks, leading to a decrease in demand and a drop in the stock price. Negative sentiment can be driven by factors such as poor earnings reports, negative news about the company or industry, or broader economic concerns. It's important to note that investor sentiment is just one of many factors that can affect stock prices. Other factors, such as company performance, industry trends, and global economic conditions, can also play a significant role in determining the value of a stock.
Precision Drilling Fundamental Analysis
We analyze Precision Drilling's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Precision Drilling using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Precision Drilling based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Probability Of Bankruptcy
Probability Of Bankruptcy Comparative Analysis
Precision Drilling is currently under evaluation in probability of bankruptcy category among its peers. Probability Of Bankruptcy is a relative measure of the likelihood of financial distress. For stocks, the Probability Of Bankruptcy is the normalized value of Z-Score. For funds and ETFs, it is derived from a multi-factor model developed by Macroaxis. The score is used to predict the probability of a firm or a fund experiencing financial distress within the next 24 months. Unlike Z-Score, Probability Of Bankruptcy is the value between 0 and 100, indicating the firm's actual probability it will be financially distressed in the next 2 fiscal years.
Precision Drilling Potential Pair-trading
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Precision Drilling stock to make a market-neutral strategy. Peer analysis of Precision Drilling could also be used in its relative valuation, which is a method of valuing Precision Drilling by comparing valuation metrics with similar companies.
Peers
Precision Drilling Related Equities
| BORR | Borr Drilling | 2.14 | ||||
| NE | Noble Plc | 0.52 | ||||
| SDRL | Seadrill | 0.82 | ||||
| HP | Helmerich | 1.03 | ||||
| RIG | Transocean | 1.61 | ||||
| PTEN | Patterson UTI | 2.65 | ||||
| NBR | Nabors Industries | 5.60 |
Additional Tools for Precision Stock Analysis
When running Precision Drilling's price analysis, check to measure Precision Drilling's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Precision Drilling is operating at the current time. Most of Precision Drilling's value examination focuses on studying past and present price action to predict the probability of Precision Drilling's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Precision Drilling's price. Additionally, you may evaluate how the addition of Precision Drilling to your portfolios can decrease your overall portfolio volatility.