Short Interest in Ranger Energy Services Inc (NYSE:RNGR) Grows By 78.1%

Ranger Energy Services Inc (NYSE:RNGR) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 38,300 shares, a growth of 78.1% from the July 31st total of 21,500 shares. Currently, 0.9% of the shares of the company are short sold. Based on an average daily volume of 9,000 shares, the days-to-cover ratio is currently 4.3 days.

A number of brokerages have weighed in on RNGR. Zacks Investment Research lowered shares of Ranger Energy Services from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. ValuEngine upgraded Ranger Energy Services from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Ranger Energy Services currently has a consensus rating of “Hold” and a consensus target price of $10.29.

NYSE RNGR traded up $0.05 during trading hours on Wednesday, hitting $6.60. 5,200 shares of the company’s stock traded hands, compared to its average volume of 8,977. Ranger Energy Services has a 52 week low of $4.70 and a 52 week high of $8.76. The firm has a market capitalization of $101.43 million, a P/E ratio of 14.67 and a beta of 3.27. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 0.28. The business’s fifty day moving average price is $6.38 and its two-hundred day moving average price is $7.01.

Ranger Energy Services (NYSE:RNGR) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.12). The business had revenue of $84.30 million during the quarter, compared to the consensus estimate of $91.73 million. Ranger Energy Services had a return on equity of 3.13% and a net margin of 1.79%. On average, sell-side analysts expect that Ranger Energy Services will post 0.71 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the company. Private Capital Group LLC purchased a new stake in shares of Ranger Energy Services in the 2nd quarter worth $32,000. Royal Bank of Canada lifted its position in Ranger Energy Services by 250,000.0% during the second quarter. Royal Bank of Canada now owns 7,503 shares of the company’s stock valued at $60,000 after purchasing an additional 7,500 shares in the last quarter. BlackRock Inc. grew its holdings in Ranger Energy Services by 15.5% during the second quarter. BlackRock Inc. now owns 14,358 shares of the company’s stock valued at $115,000 after purchasing an additional 1,928 shares during the period. Finally, Creative Planning bought a new stake in Ranger Energy Services during the second quarter valued at about $132,000. Hedge funds and other institutional investors own 26.76% of the company’s stock.

About Ranger Energy Services

Ranger Energy Services, Inc provides well service rigs and related services in the United States. It operates through three segments: High Specification Rigs, Completion and Other Services, and Processing Solutions. The company offers well completion support services, such as milling out composite plugs used during hydraulic fracturing, wireline, and snubbing services; workover services, including retrieval and replacement of existing production tubing; well maintenance services comprising replacement of downhole artificial lift components; and decommissioning services consisting of plugging and abandonment services.

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