FTS International Inc (NYSE:FTSI) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 1,995,100 shares, a decline of 15.6% from the June 30th total of 2,364,500 shares. Based on an average daily volume of 745,600 shares, the days-to-cover ratio is presently 2.7 days. Currently, 2.8% of the shares of the company are sold short.
Several institutional investors have recently modified their holdings of FTSI. Northern Trust Corp raised its position in shares of FTS International by 4.1% in the second quarter. Northern Trust Corp now owns 415,583 shares of the company’s stock valued at $2,320,000 after purchasing an additional 16,458 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of FTS International in the second quarter valued at about $155,000. Bank of New York Mellon Corp raised its position in shares of FTS International by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 804,914 shares of the company’s stock valued at $4,492,000 after purchasing an additional 27,803 shares during the period. Capital Fund Management S.A. bought a new position in shares of FTS International in the second quarter valued at about $64,000. Finally, Benefit Street Partners LLC raised its position in shares of FTS International by 56.7% in the second quarter. Benefit Street Partners LLC now owns 326,844 shares of the company’s stock valued at $1,824,000 after purchasing an additional 118,217 shares during the period. Institutional investors and hedge funds own 66.53% of the company’s stock.
Several research analysts have recently issued reports on the stock. Bank of America downgraded shares of FTS International from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $7.00 to $6.25 in a report on Wednesday, July 10th. Morgan Stanley dropped their price objective on shares of FTS International from $13.00 to $9.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Capital One Financial downgraded shares of FTS International from an “overweight” rating to an “equal weight” rating in a report on Monday, August 5th. Piper Jaffray Companies downgraded shares of FTS International from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $9.25 to $6.00 in a report on Tuesday, June 25th. Finally, Wells Fargo & Co restated a “hold” rating on shares of FTS International in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $9.19.
Shares of FTS International stock traded up $0.11 during trading on Tuesday, hitting $2.96. 1,163,400 shares of the company’s stock traded hands, compared to its average volume of 597,034. The company has a current ratio of 2.95, a quick ratio of 2.49 and a debt-to-equity ratio of 8.49. The business’s fifty day simple moving average is $4.59. FTS International has a twelve month low of $2.71 and a twelve month high of $13.65. The firm has a market cap of $312.92 million, a P/E ratio of 1.25, a PEG ratio of 2.88 and a beta of 1.54.
FTS International (NYSE:FTSI) last issued its earnings results on Tuesday, July 30th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.05). FTS International had a net margin of 2.62% and a return on equity of 130.74%. The business had revenue of $225.80 million for the quarter, compared to analyst estimates of $236.09 million. During the same quarter last year, the firm posted $0.95 earnings per share. FTS International’s revenue was down 54.2% on a year-over-year basis. As a group, research analysts predict that FTS International will post 0.17 EPS for the current year.
About FTS International
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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