Added to YB: 2024-10-25
Pitch date: 2024-10-24
NOL.OL [bullish]
Northern Ocean Ltd.
+16.71%
current return
Author Info
Raging Bull Investments is a lawyer by background who shares actionable investment ideas on value opportunities with a catalyst. Sign up for the newsletter.
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 7.66
Price Target
31.00 (+247%)
Dividend
N/A
EV/EBITDA
21.17
P/E
-3.40
EV/Sales
3.69
Sector
Energy Equipment and Services
Category
turnaround
One More for the Offshore Basket: An Orphaned Microcap Driller - Northern Ocean Ltd.
NOL.OL: 2 high-spec HE semi-subs at 40% discount. 90%+ utilization, $500K day-rates. Liquidity risk, but recapitalized. $450K rates = 30%+ FCF yield. Sale potential: 100-320% upside. New CEO, aligned insiders. Risks: contract gaps, dilution. Bullish on 2025+ demand inflection.
Read full article (12 min)