Company shares last traded at $11.48 significantly above $10.23, the 50 day moving average and which is marginally lower than the 200 day moving average of $12.40. The 50 day moving average was up $1.25 or +12.26% and the 200 day average went down $-0.92 or -7.43%. (NYSE:RDC) shares saw heavy trading volume with 4,127K shares changing hands on Wednesday. Shares saw a steep increase in trading volume of 8.19% over the normal average daily volume.
Traders are feeling more bearish on shares of the company lately as inferred by the rise in short interest. The firm saw a rise in short interest between August 15, 2017 and August 31, 2017 of 7.81%. Short interest increased 1,754,595 over that period. The short-interest ratio increased to 9.0 and the percentage of shorted shares is 0.19% as of August 31.
A few notable investment firms have updated their holdings. As of quarter end Squarepoint Ops LLC had bought a total of 118,751 shares growing its stake by 41.3%. The value of the company’s investment in Rowan Companies plc Class A Ord decreased from $4,480,000 to $4,161,000 decreasing 7.1% quarter to quarter. Vident Investment Advisory, LLC added to its stake by buying 2,130 shares an increase of 1.7% as of 06/30/2017. Vident Investment Advisory, LLC owns 124,932 shares with a value of $1,279,000. The value of the position overall is down by 33.1%.
As of the end of the quarter Engineers Gate Manager Lp had disposed of 47,902 shares trimming its position 28.8%. The value of the total investment in Rowan Companies plc Class A Ord went from $3,141,000 to $1,212,000 a change of 61.4% for the reporting period. Cubist Systematic Strategies, LLC grew its position by buying 31,331 shares an increase of 270.2%. Cubist Systematic Strategies, LLC now holds 42,926 shares valued at $440,000. The total value of its holdings increased 143.1%.
On August 25 the company was set at “Sector Perform” according to a RBC Capital report a boost from the previous “Sector Perform” rating. August 3 investment analysts at Nomura made no change to the stock rating of “Neutral” and moved down the price target to $13.00 from $14.00.
On June 21, 2017 the stock rating was changed to “Sell” in a report from Seaport Global which is down from the previous “Buy” rating.
In the latest earnings report the EPS was $-0.30 and is estimated to be $-0.95 for the current year with 126,240,000 shares currently outstanding. Analysts expect next quarter’s EPS will be $-0.37 with next year’s EPS anticipated to be $-2.35.
Rowan Companies plc, launched on October 11, 2011, is a provider of offshore contract drilling services to the international oil and gas industry. The Company operates through two segments: deepwater and jack-ups. Its deepwater segment consists of drillship operations. As of December 31, 2016, the Business’s fleet consisted of 29 mobile offshore drilling units, including 25 self-elevating jack-up rigs and four ultra-deepwater drillships. The Business’s fleet operates across the world, including the United States Gulf of Mexico (US GOM), the United Kingdom and Norwegian sectors of the North Sea, the Middle East and Trinidad. Rowan Companies Inc. is the subsidiary of the Company..