You think Cobalt International Energy Inc. (NYSE:CIE) is a blank check?


Shares of Cobalt International Energy, Inc. (NYSE:CIE) are currently poised at 17.74% from the open today and are hovering around at $3.12. More than 903,938 shares have traded hands versus an average trading volume of 665.64K. At the current PPS, the market capiralization stands at $1.48B. The stock prices of Cobalt International Energy, Inc. (NYSE:CIE) are currently trading at -89.75% below its 52 week high and 4.58% above its 52 week low.

Cobalt International Energy, Inc. (NYSE:CIE) has been in the buzz for the right reasons. Recently, Cobalt International Energy, Inc. (NYSE:CIE) announced that it has revised the effective date of its previously announced 1-for-15 reverse stock split of Cobalt’s issued and outstanding shares of common stock, which will now become effective upon the filing and effectiveness of a Certificate of Amendment to Cobalt’s Second Amended and Restated Certificate of Incorporation after the market closes on or about June 16, 2017. Trading on a split adjusted basis is planned to begin when the market opens on June 19, 2017. No fractional shares will be issued in connection with the reverse stock split. Stockholders who would otherwise be entitled to receive a fractional share of Cobalt’s common stock will receive a full share in lieu of such fractional share.

Cobalt International Energy, Inc. (NYSE:CIE) is all set to post its earnings on May 08/b. As per Zack’s analyst ratings, Cobalt International Energy, Inc. (NYSE:CIE) has an average brokerage rating of . On a scale of 1-5, a rating of 1 or 2 would show a buy, and a score of 4 or 5 would indicate a sell call. A rating of 3 would suggest a hold on the stock.

Let’s take a look at the technical analysis.

The Barchart Technical Opinion rating is a 72% Sell with a Weakening short term outlook on maintaining the current direction. Longer term, the trend strength is Average. Long term indicators fully support a continuation of the trend.

The Exponential Moving Average is similar to a simple moving average however it utilizes a weighting cog that exponentially drops from the recent data point. The study of EMA compares the short term, intermediate term and long term EMAs. The respective EMAs tend to give bullish signals when hovering above trailing EMAs and below the latest price and vice versa. EMA alerts constitute crossovers i.e. the 5-day EMA crosses below/above the 20 day EMA and EMA convergences 5-day EMA comparable to 13 day EMA. The 5 day EMA 3.29 is higher than the last trade price suggesting a short term bearish pattern building up. Long term, the 50 day EMA 5.02 is also higher than the current trading price depicting a bearish trend overall.

The relative strength index (RSI) can be defined as a momentum oscillator that can compute measure the velocity and extent of stock price changes. Momentum is computed as the ratio of positive price variations to negative price changes. The RSI study compares the current Relative Strength Index against oversold (30), overbought (70) and neutral (50) conditions. Alerts will apprise you when shares recede from oversold/overbought marks or breakthrough neutral (50). The current RSI is 34.07 suggesting a bearish price action.

Though Cobalt International Energy, Inc. (NYSE:CIE) represents an exciting growth story open to numerous attractive markets, it would be remarkable to see how it does for long-term investors.

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