Civeo Corporation (NYSE:CVEO) was the recipient of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 1,281,845 shares, a growth of 73.7% from the June 15th total of 737,943 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average daily volume of 923,106 shares, the short-interest ratio is currently 1.4 days.
A number of equities analysts have commented on the stock. Royal Bank Of Canada set a $4.00 price target on shares of Civeo Corporation and gave the stock a “hold” rating in a research note on Saturday, June 24th. BidaskClub lowered shares of Civeo Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Finally, ValuEngine upgraded shares of Civeo Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Civeo Corporation currently has an average rating of “Hold” and a consensus target price of $3.94.
Civeo Corporation (CVEO) remained flat at $1.73 during midday trading on Friday. 273,705 shares of the stock traded hands. The stock’s market cap is $228.79 million. Civeo Corporation has a one year low of $1.00 and a one year high of $3.73. The firm’s 50-day moving average is $2.04 and its 200-day moving average is $2.62.
Civeo Corporation (NYSE:CVEO) last issued its earnings results on Friday, July 28th. The business services provider reported ($0.11) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.01. Civeo Corporation had a negative return on equity of 12.63% and a negative net margin of 24.80%. The firm had revenue of $92.01 million for the quarter. Equities research analysts predict that Civeo Corporation will post ($0.52) EPS for the current fiscal year.
A number of large investors have recently modified their holdings of CVEO. Two Sigma Investments LP raised its stake in shares of Civeo Corporation by 304.4% in the fourth quarter. Two Sigma Investments LP now owns 288,608 shares of the business services provider’s stock valued at $635,000 after buying an additional 217,241 shares in the last quarter. Brookfield Asset Management Inc. raised its stake in shares of Civeo Corporation by 18.1% in the fourth quarter. Brookfield Asset Management Inc. now owns 4,358,346 shares of the business services provider’s stock valued at $9,589,000 after buying an additional 669,024 shares in the last quarter. Granite Investment Partners LLC bought a new stake in shares of Civeo Corporation during the first quarter valued at $705,000. Russell Investments Group Ltd. raised its stake in shares of Civeo Corporation by 3,103.9% in the first quarter. Russell Investments Group Ltd. now owns 264,222 shares of the business services provider’s stock valued at $789,000 after buying an additional 255,975 shares in the last quarter. Finally, Mad River Investors bought a new stake in shares of Civeo Corporation during the first quarter valued at $1,775,000. 75.16% of the stock is currently owned by hedge funds and other institutional investors.
About Civeo Corporation
Civeo Corporation is an integrated provider of long-term and temporary remote site accommodations, logistics and facility management services to the natural resource industry. The Company operates in active oil, coal, natural gas and iron ore producing regions, including Canada, Australia and the United States.
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