Transocean Ltd. (NYSE: RIG)
Number of Hedge Fund Holders: 27
Transocean Ltd. (NYSE: RIG) is placed first on our list of 15 best penny stocks to buy now. The company is headquartered in Switzerland and markets offshore drilling services. The company operates a fleet of 37 mobile offshore drilling units. The company posted earnings for the second quarter on August 2, reporting a revenue of $713 million, beating market predictions by $29 million. The revenue efficiency over the period was 98%, up 0.6% year-on-year. According to the July 2021 Fleet Status report, the contract backlog stood at $7.3 billion.
Transocean Ltd. (NYSE: RIG) has a market cap of more than $2 billion and posted $3 billion in revenue last year. It was founded in 1926. The short interest on the stock is 9.9% and the volume is 1,125,121.
At the end of the second quarter of 2021, 27 hedge funds in the database of Insider Monkey held stakes worth $313 million in Transocean Ltd. (NYSE: RIG), up from 20 in the preceding quarter worth $148 million.
Actionable Items
RIG - 15% is hold by hedge funds. Google and find out.
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