Added to YB: 2025-11-26
Pitch date: 2025-11-25
NOL.OL [neutral]
Northern Ocean Ltd.
+10.51%
current return
Author Info
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Company Info
Northern Ocean Ltd. provides offshore contract drilling services for the oil and gas industry worldwide.
Market Cap
NOK 238.1M
Pitch Price
NOK 8.09
Price Target
13.00 (+45%)
Dividend
N/A
EV/EBITDA
21.17
P/E
-3.40
EV/Sales
3.69
Sector
Energy Equipment and Services
Category
special_situation
Raging Bull Investments Idea Update - 11/24/2025 - Northern Ocean Ltd.
NOL.OL (update): Sold Deepsea Bollsta for $480M, leaving remainco Deepsea Mira at ~40% discount despite similar specs. Pro forma $40M net debt vs $245M market cap creates value opportunity. Mira lacks Bollsta's $350M backlog but balance sheet cleanup enables better contract negotiations in tightening market. Mgmt incentivized above 12NOK. Target $450M Mira sale = 13NOK/share, 65%+ upside.
Read full article (2 min)