FTS International Inc (NYSE:FTSI) Sees Significant Growth in Short Interest
FTS International Inc (NYSE:FTSI) was the target of a large growth in short interest in July. As of July 15th, there was short interest totalling 2,364,500 shares, a growth of 19.2% from the June 15th total of 1,983,700 shares. Based on an average daily volume of 649,200 shares, the days-to-cover ratio is presently 3.6 days. Currently, 3.3% of the shares of the stock are sold short.
Several analysts have recently weighed in on the stock. Wells Fargo & Co restated a “buy” rating on shares of Helmerich & Payne in a research report on Thursday, June 27th. Morgan Stanley set a $207.00 price objective on shares of Alibaba Group and gave the company a “buy” rating in a research report on Friday, July 12th. Piper Jaffray Companies cut shares of NCS Multistage from an “overweight” rating to a “neutral” rating and set a $3.80 price objective on the stock. in a research report on Tuesday, June 25th. Citigroup restated a “buy” rating and set a $25.00 price objective on shares of Propetro in a research report on Tuesday, July 2nd. Finally, Zacks Investment Research upgraded shares of HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $10.18.
FTS International stock traded down $0.04 during trading hours on Friday, reaching $4.18. The stock had a trading volume of 281,039 shares, compared to its average volume of 558,469. The stock has a market cap of $459.19 million, a PE ratio of 1.77, a PEG ratio of 2.19 and a beta of 1.58. FTS International has a 52 week low of $4.12 and a 52 week high of $13.65. The company has a current ratio of 2.41, a quick ratio of 2.00 and a debt-to-equity ratio of 9.17. The company’s fifty day simple moving average is $5.47.
Institutional investors and hedge funds have recently made changes to their positions in the company. Strs Ohio bought a new stake in FTS International during the second quarter worth about $455,000. WINTON GROUP Ltd bought a new stake in FTS International during the second quarter worth about $218,000. Denali Advisors LLC boosted its stake in FTS International by 284.8% during the second quarter. Denali Advisors LLC now owns 70,200 shares of the company’s stock worth $392,000 after acquiring an additional 51,957 shares in the last quarter. First Trust Advisors LP boosted its stake in FTS International by 46.0% during the first quarter. First Trust Advisors LP now owns 298,987 shares of the company’s stock worth $2,990,000 after acquiring an additional 94,153 shares in the last quarter. Finally, FMR LLC bought a new stake in FTS International during the first quarter worth about $317,000. 66.42% of the stock is currently owned by hedge funds and other institutional investors.
FTS International Company Profile
FTS International, Inc provides hydraulic fracturing services in North America. Its services enhance hydrocarbon flow from oil and natural gas wells drilled by exploration and production companies (E&P), in shale and other unconventional resource formations. The company's wireline services primarily consist of setting plugs between hydraulic fracturing stages, creating perforations within hydraulic fracturing stages, and logging the characteristics of resource formations.
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