Franks International NV (NYSE:FI) Short Interest Up 8.4% in May

Franks International NV (NYSE:FI) was the recipient of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 3,323,600 shares, an increase of 8.4% from the April 30th total of 3,066,200 shares. Currently, 3.8% of the company’s stock are short sold. Based on an average daily volume of 673,500 shares, the days-to-cover ratio is presently 4.9 days.

In related news, Director Steven B. Mosing sold 170,000 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $5.96, for a total transaction of $1,013,200.00. Following the completion of the sale, the director now owns 2,765,140 shares in the company, valued at $16,480,234.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven B. Mosing sold 63,679 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $6.01, for a total value of $382,710.79. Following the sale, the director now owns 2,998,819 shares of the company’s stock, valued at approximately $18,022,902.19. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 337,000 shares of company stock valued at $1,999,305. 18.20% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of FI. Velanne Asset Management Ltd purchased a new position in Franks International during the fourth quarter worth about $6,299,000. BlackRock Inc. raised its holdings in shares of Franks International by 0.4% in the 4th quarter. BlackRock Inc. now owns 5,380,459 shares of the pipeline company’s stock worth $28,087,000 after purchasing an additional 22,245 shares during the period. Vanguard Group Inc. raised its holdings in shares of Franks International by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,337,608 shares of the pipeline company’s stock worth $11,612,000 after purchasing an additional 20,895 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in shares of Franks International by 578.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 563,764 shares of the pipeline company’s stock worth $2,942,000 after purchasing an additional 480,708 shares during the period. Finally, Squarepoint Ops LLC raised its holdings in shares of Franks International by 24.9% in the 4th quarter. Squarepoint Ops LLC now owns 64,699 shares of the pipeline company’s stock worth $338,000 after purchasing an additional 12,890 shares during the period. Institutional investors and hedge funds own 38.42% of the company’s stock.

FI stock traded up $0.09 on Friday, reaching $5.91. 524,562 shares of the company’s stock were exchanged, compared to its average volume of 1,160,088. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.30 and a current ratio of 3.95. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -14.07 and a beta of 1.39. Franks International has a twelve month low of $4.80 and a twelve month high of $9.75. The company has a fifty day moving average of $5.78.

Franks International (NYSE:FI) last posted its earnings results on Tuesday, May 7th. The pipeline company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.06). Franks International had a negative net margin of 13.96% and a negative return on equity of 7.65%. The firm had revenue of $144.40 million during the quarter, compared to analyst estimates of $136.88 million. During the same period last year, the company posted ($0.18) EPS. The firm’s revenue for the quarter was up 24.9% on a year-over-year basis. On average, equities research analysts forecast that Franks International will post -0.23 EPS for the current fiscal year.

FI has been the subject of a number of research reports. Tudor Pickering upgraded Franks International from a “hold” rating to a “buy” rating and set a $5.49 price objective for the company in a research note on Tuesday, July 2nd. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Franks International presently has an average rating of “Hold” and an average target price of $7.94.

Franks International Company Profile

Frank's International N.V. provides various engineered tubular services for the oil and gas exploration and production, and oilfield services companies in the United States, Europe, the Middle East, Africa, Latin America, the Asia Pacific, and internationally. The company operates through four segments: International Services, U.S.

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