Transocean also has a healthy liquidity buffer of $2.5 billion. This provides scope for EBITDA margin expansion in the foreseeable future. I also believe new contracts will be made at a higher day-rate. This provides near-term revenue and cash flow visibility. It’s worth noting that as of May 2021, the company reported an order backlog of $7.4 billion. As oil stocks trend higher, Transocean is well-positioned for growth with a modern fleet. In the last few years, the company has modernized its fleet through divestitures and acquisitions. Transocean has 39 floaters that are focused on ultra-deep water and harsh environment drilling. As order intake accelerates, the stock is positioned for further upside. RIG stock has already trended higher by 47% year-to-date (YTD). With Brent oil remaining firm around $70 per barrel, I am bullish on offshore drilling service providers. If the positive momentum for cryptocurrencies sustains, it is likely to see double-digit prices in the next 12 to 18 months.
HVBT stock looks attractive at its current level around $3. Once the new miners are deployed, Hive Blockchain is positioned for multi-fold growth in EBITDA. For the same period, the company reported adjusted EBITDA of $13.7 million. In the first quarter of 2021, Hive Blockchain mined 165 Bitcoin and 21,500 Ethereum. If this trend sustains, the company has significant growth potential in that segment.
It’s worth noting that deposits in DeFi applications surged from $1 billion in June 2020 to nearly $40 billion in January 2021. In April 2021, the company completed a share investment in DeFi Technologies. Once this expansion is completed, the company expects to achieve $200 million in annual run-rate.Īdditionally, the company is also making inroads in the high-growth segment of decentralized finance. Last month, the company announced the purchase of 4,000 miners. The company is a diversified player with a presence in Bitcoin and Ethereum (CCC: ETH-USD) mining. With Bitcoin (CCC: BTC-USD) seeing a strong rally, Hive Blockchain is an attractive cryptocurrency penny stock. HVBT stock was recently approved for NASDAQ up-listing.
0 kommentar(er)
