McDermott International Inc (NYSE:MDR) Short Interest Up 7.4% in November

McDermott International Inc (NYSE:MDR) saw a significant growth in short interest in November. As of November 29th, there was short interest totalling 105,300,000 shares, a growth of 7.4% from the November 14th total of 98,050,000 shares. Based on an average daily trading volume, of 22,110,000 shares, the short-interest ratio is currently 4.8 days. Currently, 66.7% of the shares of the stock are sold short.

Shares of NYSE MDR traded up $0.05 during trading on Friday, hitting $0.83. The company had a trading volume of 10,098,576 shares, compared to its average volume of 13,568,010. McDermott International has a 52 week low of $0.53 and a 52 week high of $10.99. The business’s 50-day moving average is $1.04 and its 200 day moving average is $4.63. The company has a debt-to-equity ratio of 7.01, a current ratio of 0.40 and a quick ratio of 0.39.

McDermott International (NYSE:MDR) last announced its earnings results on Monday, November 4th. The oil and gas company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($1.07). McDermott International had a negative net margin of 56.57% and a negative return on equity of 349.92%. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same period last year, the firm earned $0.20 earnings per share. McDermott International’s revenue for the quarter was down 7.3% compared to the same quarter last year.

Separately, Citigroup dropped their price target on McDermott International from $11.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th.

In other news, insider Hook Sandra 714,285 shares of the company’s stock in a transaction on Monday, November 25th. 0.97% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Sunbelt Securities Inc. acquired a new stake in McDermott International during the 3rd quarter valued at $34,000. SG Americas Securities LLC raised its stake in McDermott International by 383.7% during the 3rd quarter. SG Americas Securities LLC now owns 96,504 shares of the oil and gas company’s stock valued at $195,000 after purchasing an additional 76,551 shares during the period. First Trust Advisors LP raised its stake in McDermott International by 119.1% during the 3rd quarter. First Trust Advisors LP now owns 414,436 shares of the oil and gas company’s stock valued at $837,000 after purchasing an additional 225,310 shares during the period. Creative Planning raised its stake in McDermott International by 178.9% during the 3rd quarter. Creative Planning now owns 91,328 shares of the oil and gas company’s stock valued at $184,000 after purchasing an additional 58,584 shares during the period. Finally, Sigma Planning Corp raised its stake in McDermott International by 86.1% during the 3rd quarter. Sigma Planning Corp now owns 76,548 shares of the oil and gas company’s stock valued at $155,000 after purchasing an additional 35,425 shares during the period. 79.24% of the stock is currently owned by institutional investors.

About McDermott International

McDermott International, Inc provides engineering, procurement, construction and installation, and technology solutions to the energy industry worldwide. It operates through five segments: North, Central and South America; Europe, Africa, Russia and Caspian; the Middle East and North Africa; Asia Pacific; and Technology.

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