DNOW (NYSE:DNOW) Share Price Crosses Below 50-Day Moving Average – Should You Sell?

DNOW Inc. (NYSE:DNOW) shares crossed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $15.62 and traded as low as $15.21. DNOW shares last traded at $15.7330, with a volume of 1,885,652 shares traded.

Analyst Ratings Changes

Several equities analysts recently issued reports on DNOW shares. Weiss Ratings reissued a “sell (d+)” rating on shares of DNOW in a research note on Monday, August 24th. Freedom Broker cut shares of DNOW from a “buy” rating to a “hold” rating and set a $18.00 price target on the stock. in a research report on Thursday, September 10th. Freedom Capital raised shares of DNOW to a “strong-buy” rating in a research note on Monday, June 22nd. DA Davidson upped their target price on shares of DNOW from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, Wall Street Zen upgraded shares of DNOW from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.20.

DNOW Trading Up 3.0%

The company’s fifty day moving average is $15.62 and its two-hundred day moving average is $13.85. The company has a quick ratio of 1.06, a current ratio of 2.14 and a debt-to-equity ratio of 0.23. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of -14.70 and a beta of 0.89.

DNOW (NYSE:DNOW) last posted its quarterly earnings results on Thursday, August 6th. The oil and gas company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.09 by $0.03. DNOW had a negative net margin of 4.58% and a positive return on equity of 3.91%. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the business posted $0.27 EPS. The firm’s revenue was up 108.1% on a year-over-year basis. On average, research analysts predict that DNOW Inc. will post 0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On DNOW

Large investors have recently bought and sold shares of the business. Resonant Capital Advisors LLC increased its position in DNOW by 9.4% during the first quarter. Resonant Capital Advisors LLC now owns 18,655 shares of the oil and gas company’s stock worth $222,000 after purchasing an additional 1,596 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of DNOW by 158.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,097 shares of the oil and gas company’s stock worth $41,000 after buying an additional 1,897 shares during the period. Nykredit A S acquired a new stake in DNOW in the second quarter valued at approximately $26,000. Sequoia Financial Advisors LLC grew its holdings in DNOW by 2.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 86,530 shares of the oil and gas company’s stock valued at $1,122,000 after purchasing an additional 2,029 shares in the last quarter. Finally, HB Wealth Management LLC increased its position in shares of DNOW by 10.5% during the second quarter. HB Wealth Management LLC now owns 23,185 shares of the oil and gas company’s stock worth $301,000 after acquiring an additional 2,210 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

DNOW Company Profile

DNOW Inc (NYSE: DNOW) is a distributor and supply chain solutions provider serving the energy and industrial markets. The company supplies products and services used in oil and natural gas exploration, production, midstream infrastructure, refining, petrochemical processing, and industrial applications.

Its offerings include pipes, valves, fittings, flanges, gaskets, fasteners, instrumentation, electrical products, production equipment, artificial lift products, and other maintenance, repair, and operating supplies.