On Friday NYSE: VAL rose 162.12% to $0.9300 nearly reaching $1 mark. Obsessed buyers definitely increased its demand that led to the total volume of $137,483,273 shares which was ten times bigger than the daily average. Pre-market value confirms that VAL manages to get even $1.54 at 7:14 AM EDT.
Not long ago Valaris announced the first quarter ended in March 2020 financial results.
Q1 2020 Financial Report
Negative $55.5 million quarterly change happened because of COVID-19 lockdown as the economy stopped demanding energy products. The cost of revenue surged by $100 000 only while operating expenses rose by $11.4k. Operating income steadily became negative again with $237.3 million.
Current market capitalization reaches $191.572 million, meaning it is sixteen times bigger than the actual value while its EPS stays negative at $15.4010.