Short Interest in Oil States International, Inc. (NYSE:OIS) Expands By 76.8%

Oil States International, Inc. (NYSE:OISGet Rating) was the target of a large growth in short interest in April. As of April 30th, there was short interest totalling 4,720,000 shares, a growth of 76.8% from the April 15th total of 2,670,000 shares. Currently, 8.0% of the shares of the stock are sold short. Based on an average daily volume of 1,090,000 shares, the days-to-cover ratio is presently 4.3 days.

A number of institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp grew its holdings in Oil States International by 9.8% in the 1st quarter. Van ECK Associates Corp now owns 2,997,682 shares of the oil and gas company’s stock worth $20,834,000 after acquiring an additional 268,059 shares during the last quarter. Foundry Partners LLC grew its holdings in Oil States International by 7.6% in the 4th quarter. Foundry Partners LLC now owns 2,330,033 shares of the oil and gas company’s stock worth $11,580,000 after acquiring an additional 163,976 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Oil States International by 73.2% in the 1st quarter. New York State Common Retirement Fund now owns 1,379,993 shares of the oil and gas company’s stock worth $9,591,000 after acquiring an additional 583,432 shares during the last quarter. Geode Capital Management LLC grew its holdings in Oil States International by 5.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,181,384 shares of the oil and gas company’s stock worth $7,549,000 after acquiring an additional 61,620 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Oil States International by 26.8% in the 4th quarter. Russell Investments Group Ltd. now owns 713,103 shares of the oil and gas company’s stock worth $3,543,000 after acquiring an additional 150,612 shares during the last quarter. 85.22% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:OIS opened at $6.76 on Friday. The stock has a market cap of $418.38 million, a PE ratio of -7.04 and a beta of 3.21. The company’s fifty day moving average is $6.95 and its 200 day moving average is $6.20. Oil States International has a 52 week low of $4.42 and a 52 week high of $8.70. The company has a quick ratio of 1.24, a current ratio of 2.12 and a debt-to-equity ratio of 0.20.

Oil States International (NYSE:OISGet Rating) last issued its earnings results on Wednesday, February 16th. The oil and gas company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). The business had revenue of $161.32 million during the quarter, compared to analysts’ expectations of $160.00 million. Oil States International had a negative return on equity of 5.58% and a negative net margin of 9.42%. During the same quarter in the previous year, the business earned ($0.21) EPS. Sell-side analysts anticipate that Oil States International will post -0.15 EPS for the current year.

Several analysts have issued reports on OIS shares. Piper Sandler increased their target price on shares of Oil States International from $8.00 to $10.00 and gave the stock an “overweight” rating in a research note on Monday, April 18th. Zacks Investment Research upgraded shares of Oil States International from a “hold” rating to a “buy” rating and set a $7.25 price objective on the stock in a research report on Thursday. Finally, StockNews.com assumed coverage on shares of Oil States International in a research report on Thursday, March 31st. They set a “hold” rating on the stock.

Oil States International Company Profile (Get Rating)

Oil States International, Inc, through its subsidiaries, provides oilfield products and services for the drilling, completion, subsea, production, and infrastructure sectors of the oil and gas industry worldwide. The company operates through three segments: Well Site Services, Downhole Technologies, and Offshore/Manufactured Products.

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