U.S. Well Services, Inc. (NASDAQ:USWS) Sees Significant Decrease in Short Interest

U.S. Well Services, Inc. (NASDAQ:USWSGet Rating) was the recipient of a significant decline in short interest in May. As of May 15th, there was short interest totalling 4,360,000 shares, a decline of 27.9% from the April 30th total of 6,050,000 shares. Currently, 8.2% of the shares of the stock are sold short. Based on an average daily volume of 5,800,000 shares, the days-to-cover ratio is currently 0.8 days.

Several analysts recently commented on USWS shares. Piper Sandler dropped their price target on U.S. Well Services from $4.50 to $1.00 and set an “underweight” rating for the company in a research report on Thursday, May 19th. Zacks Investment Research cut U.S. Well Services from a “hold” rating to a “sell” rating in a report on Wednesday, May 18th.

Shares of NASDAQ:USWS opened at $0.76 on Friday. The business has a fifty day moving average of $0.90 and a two-hundred day moving average of $1.16. The stock has a market cap of $58.59 million, a P/E ratio of -0.39 and a beta of 1.45. U.S. Well Services has a 52-week low of $0.50 and a 52-week high of $5.60.

U.S. Well Services (NASDAQ:USWSGet Rating) last announced its quarterly earnings results on Monday, May 16th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.17). The firm had revenue of $41.15 million during the quarter, compared to analyst estimates of $39.40 million. During the same quarter in the previous year, the business posted ($1.23) earnings per share. Analysts predict that U.S. Well Services will post -0.61 EPS for the current year.

Several institutional investors have recently made changes to their positions in the company. Morgan Stanley acquired a new position in U.S. Well Services during the 2nd quarter worth about $1,661,000. Bank of New York Mellon Corp acquired a new position in U.S. Well Services during the 1st quarter worth about $214,000. Prelude Capital Management LLC acquired a new position in U.S. Well Services during the 1st quarter worth about $165,000. Citadel Advisors LLC acquired a new position in U.S. Well Services during the 3rd quarter worth about $88,000. Finally, Millennium Management LLC lifted its stake in U.S. Well Services by 249.5% during the 2nd quarter. Millennium Management LLC now owns 162,389 shares of the company’s stock worth $164,000 after acquiring an additional 115,926 shares in the last quarter.

About U.S. Well Services (Get Rating)

U.S. Well Services, Inc operates as an oilfield service company in the United States. It provides pressure pumping services; and hydraulic fracturing services to the oil and natural gas exploration, and production companies. The company was founded in 2012 and is headquartered in Houston, Texas.

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