Short Interest in SBM Offshore (OTCMKTS:SBFFY) Decreases By 99.9%

SBM Offshore (OTCMKTS:SBFFY) was the target of a large decline in short interest in January. As of January 30th, there was short interest totaling 1 shares, a decline of 99.9% from the January 15th total of 1,189 shares. Based on an average daily trading volume, of 1,879 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily trading volume, of 1,879 shares, the days-to-cover ratio is currently 0.0 days.

SBM Offshore Trading Up 0.7%

Shares of OTCMKTS SBFFY opened at $35.26 on Wednesday. SBM Offshore has a 12-month low of $19.47 and a 12-month high of $36.15. The firm’s 50-day simple moving average is $31.21 and its 200 day simple moving average is $28.08.

Analyst Ratings Changes

Separately, Barclays upgraded SBM Offshore from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

SBM Offshore Company Profile

SBM Offshore is a Netherlands‐based provider of floating production, storage and offloading (FPSO) vessels and related services to the offshore oil and gas industry. Founded in 1965 as part of Royal IHC and listed as an independent entity in 2005, the company has established itself as a specialist in the design, engineering, construction and leasing of floating production systems. Headquartered in Schiedam, the firm leverages decades of experience in turret mooring technology and deepwater installations to serve oil and gas operators worldwide.

The company’s core offerings include turnkey FPSO solutions, which encompass front‐end engineering design, detailed engineering, procurement, construction, installation and commissioning.