Subsea 7 S.A. (OTCMKTS:SUBCY) Sees Significant Drop in Short Interest

Subsea 7 S.A. (OTCMKTS:SUBCYGet Rating) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 9,100 shares, a drop of 23.5% from the March 15th total of 11,900 shares. Based on an average trading volume of 20,700 shares, the short-interest ratio is currently 0.4 days.

Shares of OTCMKTS SUBCY traded up $0.14 during midday trading on Monday, hitting $9.47. The company had a trading volume of 1,800 shares, compared to its average volume of 20,346. The company has a quick ratio of 1.23, a current ratio of 1.25 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 86.09 and a beta of 1.92. The business has a 50-day simple moving average of $8.40 and a two-hundred day simple moving average of $8.17. Subsea 7 has a twelve month low of $6.47 and a twelve month high of $10.85.

Several analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Subsea 7 from 84.00 to 86.00 in a research note on Thursday, February 17th. Barclays raised their price objective on shares of Subsea 7 from 110.00 to 125.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Zacks Investment Research upgraded shares of Subsea 7 from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Thursday, April 7th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $78.40.

About Subsea 7 (Get Rating)

Subsea 7 SA delivers offshore projects and services for the evolving energy industry worldwide. It provides subsea field development products and services, including project management, design and engineering, procurement, fabrication, survey, installation, and commissioning of production facilities on the seabed and the tie-back of its facilities to fixed or floating platforms or to the shore.

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