McDermott International Inc (MDR) Short Interest Update
McDermott International Inc (NYSE:MDR) was the target of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 52,334,669 shares, an increase of 16.2% from the January 12th total of 45,057,172 shares. Approximately 18.6% of the company’s shares are short sold. Based on an average daily trading volume, of 10,087,858 shares, the short-interest ratio is currently 5.2 days.
Shares of McDermott International (NYSE:MDR) traded up $0.21 during mid-day trading on Wednesday, hitting $7.78. 3,514,060 shares of the stock traded hands, compared to its average volume of 7,905,430. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.70 and a current ratio of 1.70. McDermott International has a 52-week low of $5.56 and a 52-week high of $9.07. The firm has a market cap of $2,140.00, a price-to-earnings ratio of 14.37 and a beta of 1.58.
Several analysts have recently weighed in on MDR shares. Credit Suisse Group dropped their price target on shares of McDermott International from $7.60 to $7.30 and set a “neutral” rating for the company in a research note on Thursday, November 2nd. Zacks Investment Research cut shares of McDermott International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 25th. UBS Group increased their price target on shares of McDermott International from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Friday, November 3rd. ValuEngine lowered shares of McDermott International from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 15th. Finally, KeyCorp upgraded shares of McDermott International from a “sector weight” rating to an “overweight” rating in a report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. McDermott International currently has an average rating of “Hold” and a consensus price target of $7.93.
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McDermott International Company Profile
McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI), front-end engineering and design (FEED) and module fabrication services for upstream field developments across the world. The Company delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for offshore and subsea oil and gas projects.
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