Team, Inc. (NYSE:TISI) Sees Large Increase in Short Interest

Team, Inc. (NYSE:TISI) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 1,420,000 shares, an increase of 35.2% from the August 15th total of 1,050,000 shares. Based on an average daily volume of 283,200 shares, the days-to-cover ratio is presently 5.0 days. Currently, 4.8% of the company’s shares are short sold.

TISI stock traded down $0.09 during midday trading on Tuesday, hitting $3.45. 4,463 shares of the company’s stock were exchanged, compared to its average volume of 294,886. The stock has a market capitalization of $106.88 million, a price-to-earnings ratio of -1.44 and a beta of 1.92. The firm has a 50 day moving average price of $4.82 and a 200-day moving average price of $7.72. The company has a current ratio of 1.73, a quick ratio of 1.55 and a debt-to-equity ratio of 2.12. Team has a 12-month low of $3.35 and a 12-month high of $13.84.

Team (NYSE:TISI) last issued its quarterly earnings results on Tuesday, August 3rd. The business services provider reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.03). Team had a negative return on equity of 32.23% and a negative net margin of 8.81%. The company had revenue of $238.87 million for the quarter, compared to the consensus estimate of $235.20 million. On average, sell-side analysts forecast that Team will post -1.29 EPS for the current fiscal year.

Separately, Zacks Investment Research raised shares of Team from a “sell” rating to a “hold” rating in a research report on Tuesday, July 27th.

Several hedge funds and other institutional investors have recently modified their holdings of TISI. Bank of Montreal Can lifted its holdings in Team by 19.2% in the second quarter. Bank of Montreal Can now owns 13,733 shares of the business services provider’s stock worth $96,000 after acquiring an additional 2,211 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Team in the 1st quarter worth approximately $41,000. Sei Investments Co. boosted its position in Team by 0.6% during the 1st quarter. Sei Investments Co. now owns 444,387 shares of the business services provider’s stock valued at $5,124,000 after purchasing an additional 2,669 shares during the period. Principal Financial Group Inc. lifted its stake in Team by 1.7% in the second quarter. Principal Financial Group Inc. now owns 214,059 shares of the business services provider’s stock valued at $1,434,000 after buying an additional 3,549 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Team by 11.7% during the first quarter. Barclays PLC now owns 37,687 shares of the business services provider’s stock valued at $434,000 after acquiring an additional 3,948 shares during the period. Institutional investors and hedge funds own 83.15% of the company’s stock.

Team Company Profile

Team, Inc engages in the provision of digitally-enabled asset performance assurance and optimization solutions. It operates through the following segments: Inspection and Heat Treating (IHT), Mechanical Services (MS), and Quest Integrity. The Inspection and Heat Treating segment offers conventional and advanced non-destructive testing (NDT) heat treating and thermal services, tank management, and pipeline integrity solutions, as well as associated engineering and condition assessment services.

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