Shares of McDermott International Inc (NYSE:MDR) dropped 6.5% on Tuesday . The stock traded as low as $0.79 and last traded at $0.82, approximately 10,563,751 shares traded hands during trading. An increase of 6% from the average daily volume of 9,968,001 shares. The stock had previously closed at $0.88.
Separately, Citigroup decreased their price target on McDermott International from $11.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th.
The company has a current ratio of 0.40, a quick ratio of 0.39 and a debt-to-equity ratio of 7.01. The firm’s fifty day moving average price is $1.29 and its two-hundred day moving average price is $4.90. The stock has a market capitalization of $152.28 million, a PE ratio of -0.83 and a beta of 2.97.
In other McDermott International news, insider Hook Sandra 714,285 shares of the business’s stock in a transaction dated Monday, November 25th. 0.97% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Kovack Advisors Inc. acquired a new position in shares of McDermott International during the 3rd quarter worth approximately $27,000. Sunbelt Securities Inc. purchased a new stake in McDermott International in the 3rd quarter worth $34,000. CIBC Asset Management Inc purchased a new stake in McDermott International in the 3rd quarter worth $41,000. Usca Ria LLC acquired a new position in McDermott International during the third quarter worth $57,000. Finally, BB&T Securities LLC raised its position in McDermott International by 37.6% during the third quarter. BB&T Securities LLC now owns 31,909 shares of the oil and gas company’s stock worth $63,000 after acquiring an additional 8,717 shares during the period. 79.26% of the stock is currently owned by institutional investors.
About McDermott International (NYSE:MDR)
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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