Investors Buy High Volume of North Atlantic Drilling Put Options (NADL)
North Atlantic Drilling Ltd. (NYSE:NADL) was the recipient of some unusual options trading on Monday. Investors bought 12,021 put options on the stock. This represents an increase of 1,355% compared to the typical daily volume of 826 put options.
North Atlantic Drilling (NADL) opened at 1.777 on Thursday. The stock’s 50 day moving average price is $1.85 and its 200 day moving average price is $2.13. North Atlantic Drilling has a 12 month low of $0.65 and a 12 month high of $5.40. The company’s market capitalization is $42.85 million.
North Atlantic Drilling (NYSE:NADL) last posted its earnings results on Wednesday, May 24th. The oil and gas company reported ($2.34) EPS for the quarter, topping analysts’ consensus estimates of ($2.50) by $0.16. The company had revenue of $72.60 million for the quarter. North Atlantic Drilling had a negative return on equity of 30.91% and a negative net margin of 25.59%. Equities research analysts anticipate that North Atlantic Drilling will post ($10.65) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in North Atlantic Drilling stock. Renaissance Technologies LLC increased its stake in North Atlantic Drilling Ltd. (NYSE:NADL) by 3.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 453,940 shares of the oil and gas company’s stock after buying an additional 13,300 shares during the period. Renaissance Technologies LLC owned about 1.88% of North Atlantic Drilling worth $1,439,000 as of its most recent SEC filing. 4.37% of the stock is currently owned by institutional investors and hedge funds.
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