Noble Stock Falls On Unusually High Volume (NE)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Noble Corporation (NYSE: NE) is trading at unusually high volume Thursday with 6.5 million shares changing hands. It is currently at two times its average daily volume and trading down $1.68 (-4.2%) at $38.17 as of 12:26 p.m. ET.

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Noble has a market cap of $10 billion and is part of the basic materials sector and energy industry. Shares are up 13.7% year to date as of the close of trading on Wednesday.

Noble Corporation operates as an offshore drilling contractor for the oil and gas industry. The company offers contract drilling services for oil and gas wells. The company has a P/E ratio of 19.3, above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Noble as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and feeble growth in the company's earnings per share. You can view the full Noble Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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