FTS International Inc (NYSE:FTSI) Sees Large Growth in Short Interest

FTS International Inc (NYSE:FTSI) saw a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 5,780,000 shares, a growth of 28.7% from the September 30th total of 4,490,000 shares. Currently, 8.1% of the company’s stock are short sold. Based on an average daily volume of 617,600 shares, the short-interest ratio is presently 9.4 days.

Several institutional investors and hedge funds have recently modified their holdings of the company. Stone Ridge Asset Management LLC boosted its position in shares of FTS International by 10.0% during the 2nd quarter. Stone Ridge Asset Management LLC now owns 43,017 shares of the company’s stock valued at $240,000 after acquiring an additional 3,900 shares during the last quarter. Aperio Group LLC bought a new stake in shares of FTS International during the 2nd quarter valued at about $52,000. Capital Fund Management S.A. bought a new stake in shares of FTS International during the 2nd quarter valued at about $64,000. SG Americas Securities LLC bought a new stake in shares of FTS International during the 3rd quarter valued at about $28,000. Finally, First Trust Advisors LP boosted its position in shares of FTS International by 24.5% during the 3rd quarter. First Trust Advisors LP now owns 75,218 shares of the company’s stock valued at $168,000 after acquiring an additional 14,805 shares during the last quarter. Hedge funds and other institutional investors own 63.64% of the company’s stock.

Shares of FTSI opened at $0.99 on Friday. The company has a market cap of $100.11 million, a PE ratio of 3.22 and a beta of 1.60. The company has a current ratio of 3.22, a quick ratio of 2.81 and a debt-to-equity ratio of 10.19. The stock has a 50-day moving average price of $1.70 and a 200-day moving average price of $4.28. FTS International has a 12-month low of $0.90 and a 12-month high of $12.37.

A number of analysts have recently issued reports on FTSI shares. Barclays lowered their price objective on shares of FTS International from $5.00 to $3.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. Cowen downgraded FTS International from an “outperform” rating to a “market perform” rating and set a $5.00 target price for the company. in a research note on Thursday, September 12th. Bank of America downgraded FTS International from a “neutral” rating to an “underperform” rating in a research note on Tuesday, October 8th. ValuEngine cut FTS International from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Finally, Wells Fargo & Co cut their target price on FTS International from $4.00 to $3.00 and set a “market perform” rating on the stock in a report on Thursday, September 12th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. FTS International currently has a consensus rating of “Hold” and a consensus price target of $5.56.

FTS International Company Profile

FTS International, Inc provides hydraulic fracturing services in North America. Its services enhance hydrocarbon flow from oil and natural gas wells drilled by exploration and production companies (E&P), in shale and other unconventional resource formations. The company's wireline services primarily consist of setting plugs between hydraulic fracturing stages, creating perforations within hydraulic fracturing stages, and logging the characteristics of resource formations.

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