FTS International Inc (NYSE:FTSI) Sees Significant Drop in Short Interest

FTS International Inc (NYSE:FTSI) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 1,995,100 shares, a drop of 15.6% from the June 30th total of 2,364,500 shares. Currently, 2.8% of the company’s shares are sold short. Based on an average trading volume of 745,600 shares, the days-to-cover ratio is currently 2.7 days.

FTS International stock traded up $0.14 on Thursday, hitting $3.08. 1,012,200 shares of the stock traded hands, compared to its average volume of 600,067. 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 firm has a market cap of $310.74 million, a P/E ratio of 1.31, a price-to-earnings-growth ratio of 2.86 and a beta of 1.54. The business’s fifty day simple moving average is $4.47 and its 200 day simple moving average is $7.73. FTS International has a 1 year low of $2.71 and a 1 year high of $13.65.

FTS International (NYSE:FTSI) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.05). The firm had revenue of $225.80 million for the quarter, compared to analysts’ expectations of $236.09 million. FTS International had a net margin of 2.62% and a return on equity of 130.74%. The business’s quarterly revenue was down 54.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 EPS. As a group, analysts predict that FTS International will post 0.17 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in FTSI. JPMorgan Chase & Co. lifted its position in FTS International by 53.4% during the first quarter. JPMorgan Chase & Co. now owns 1,829,334 shares of the company’s stock valued at $18,295,000 after buying an additional 637,015 shares during the period. Nuveen Asset Management LLC purchased a new position in FTS International during the second quarter valued at $2,093,000. Bank of Montreal Can lifted its position in FTS International by 1,440.0% during the first quarter. Bank of Montreal Can now owns 221,898 shares of the company’s stock valued at $2,218,000 after buying an additional 207,489 shares during the period. Vanguard Group Inc. lifted its position in FTS International by 6.3% during the second quarter. Vanguard Group Inc. now owns 3,217,124 shares of the company’s stock valued at $17,951,000 after buying an additional 191,516 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its position in FTS International by 9,466.3% during the second quarter. D. E. Shaw & Co. Inc. now owns 149,486 shares of the company’s stock valued at $834,000 after buying an additional 151,082 shares during the period. 66.53% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently commented on FTSI shares. Morgan Stanley dropped their price target on FTS International from $13.00 to $9.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Wells Fargo & Co reaffirmed a “hold” rating on shares of FTS International in a research note on Thursday, June 27th. Capital One Financial lowered FTS International from an “overweight” rating to an “equal weight” rating in a research note on Monday, August 5th. Citigroup lowered FTS International from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $8.00 to $6.00 in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research lowered FTS International from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. 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 company’s stock. The company currently has an average rating of “Hold” and an average price target of $9.19.

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.

See Also: Trading Ex-Dividend

Receive News & Ratings for FTS International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FTS International and related companies with MarketBeat.com's FREE daily email newsletter.