It is trading at $5.05 which is significantly higher than $4.48, the 50 day moving average and a tad under the 200 day moving average of $5.44. The 50 day moving average went up $0.57 or +12.69% whereas the 200 day moving average was down $-0.39 or -7.19%. Trading was light with 333K shares changing hands in the last trading session. Overall, volume was down 18.68% under the stocks normal daily volume.
Traders are a little more bullish on shares of the company recently considering the decrease in short interest. The firm saw a fall in short interest of -8.84% between August 15, 2017 and August 31, 2017. Short shares fell 299,749 over that period. The short-interest ratio increased to 6.0 and the short interest percentage is 0.07% as of August 31.
A few notable investment firms have updated their holdings. Squarepoint Ops LLC augmented its holdings by buying 21,390 shares an increase of 206.2% in the quarter. Squarepoint Ops LLC controls 31,763 shares worth $141,000. The value of the position overall is up by 67.9%. Two Sigma Advisers, Lp bolstered its ownership by buying 5,600 shares an increase of 6.1% as of 06/30/2017. Two Sigma Advisers, Lp currently owns 96,914 shares with a value of $431,000. The total value of its holdings decreased 41.4%.
Pinebridge Investments, L.p. expanded its stake by buying 365 shares an increase of 64.3%. Pinebridge Investments, L.p. owns 933 shares valued at $4,000. The value of the position overall is down by 20.0%. As of quarter end Tower Research Capital LLC (trc) had acquired 129 shares growing its position 992.3%. The value in dollars went from $0 to $1,000 a change of $1,000 for the reporting period.
On August 16 FBR Capital kept the company rating at “Outperform” and lowered the price expectation to $7.00 from $23.00.
In the last earnings report the EPS was $-1.46 and is projected to be $-0.94 for the current year with 46,754,000 shares currently outstanding. Next quarter’s EPS is forecasted to be $-0.20 with next year’s EPS anticipated to be $-0.54.
Tesco Corporation, launched on December 1, 1993, is a provider of technology-based solutions for drilling, servicing and completion of wells for the upstream energy industry. The Business’s operations consist of top drives and automated pipe handling equipment sales and rentals; aftermarket sales and services, and tubular services, including related products and accessories sales. Its segments include Products, Tubular Services, Research and Engineering, and Corporate and Other. The Products segment includes top drives and automated pipe handling equipment sales, rentals and aftermarket sales and services. The Tubular Services segment includes onshore and offshore tubular services and sales of related products and accessories. The Research and Engineering segment includes internal research, engineering, and development activities related to its products and tubular services. The Corporate and Other segment includes executive management and various global support and compliance functions..