Civeo Corporation (NYSE:CVEO) Short Interest Up 73.7% in June

Civeo Corporation (NYSE:CVEO) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 1,281,845 shares, an increase of 73.7% from the June 15th total of 737,943 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 923,106 shares, the short-interest ratio is currently 1.4 days.

Civeo Corporation (NYSE CVEO) traded up 2.52% during mid-day trading on Friday, reaching $1.63. 556,015 shares of the company’s stock traded hands. The company’s market cap is $215.57 million. The stock has a 50 day moving average of $1.99 and a 200 day moving average of $2.55. Civeo Corporation has a 12-month low of $1.00 and a 12-month high of $3.73.

Civeo Corporation (NYSE:CVEO) last posted its quarterly earnings results on Friday, July 28th. The business services provider reported ($0.11) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.01. The business had revenue of $92.01 million during the quarter. Civeo Corporation had a negative net margin of 24.80% and a negative return on equity of 12.63%. On average, equities research analysts predict that Civeo Corporation will post ($0.52) earnings per share for the current fiscal year.

Several research analysts recently commented on CVEO shares. ValuEngine downgraded shares of Civeo Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, May 26th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $3.50 price objective on shares of Civeo Corporation in a report on Friday, May 19th. Finally, BidaskClub downgraded shares of Civeo Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Civeo Corporation has a consensus rating of “Hold” and an average price target of $3.94.

Institutional investors have recently bought and sold shares of the company. M&T Bank Corp raised its position in shares of Civeo Corporation by 2.8% in the first quarter. M&T Bank Corp now owns 65,000 shares of the business services provider’s stock worth $194,000 after buying an additional 1,766 shares in the last quarter. Tudor Investment Corp ET AL raised its position in shares of Civeo Corporation by 7.0% in the first quarter. Tudor Investment Corp ET AL now owns 187,939 shares of the business services provider’s stock worth $562,000 after buying an additional 12,368 shares in the last quarter. Alps Advisors Inc. raised its position in shares of Civeo Corporation by 37.6% in the second quarter. Alps Advisors Inc. now owns 62,857 shares of the business services provider’s stock worth $132,000 after buying an additional 17,186 shares in the last quarter. Morgan Stanley raised its position in shares of Civeo Corporation by 3.5% in the first quarter. Morgan Stanley now owns 536,623 shares of the business services provider’s stock worth $1,605,000 after buying an additional 18,114 shares in the last quarter. Finally, Boston Partners raised its position in shares of Civeo Corporation by 2.5% in the first quarter. Boston Partners now owns 1,002,923 shares of the business services provider’s stock worth $2,999,000 after buying an additional 24,307 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

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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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