Vantage Drilling Short Interest Up 1.0% in August (VTG)
Shares of Vantage Drilling (NYSE:VTG) were the target of a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 17,324,047 shares, an increase of 1.0% from the July 31st total of 17,152,510 shares, AmericanBankingNews.com reports. Currently, 9.4% of the shares of the stock are sold short. Based on an average trading volume of 1,181,171 shares, the days-to-cover ratio is currently 14.7 days.
VTG has been the subject of a number of recent research reports. Analysts at FBR Capital Markets reiterated a “market perform” rating on shares of Vantage Drilling in a research note on Tuesday. They now have a $1.75 price target on the stock, down previously from $1.85. Separately, analysts at Pareto downgraded shares of Vantage Drilling from a “buy” rating to a “hold” rating in a research note on Thursday, August 21st. They now have a $1.90 price target on the stock. Finally, analysts at Global Hunter Securities cut their price target on shares of Vantage Drilling from $1.90 to $0.20 in a research note on Wednesday, August 6th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Vantage Drilling has a consensus rating of “Buy” and a consensus price target of $1.96.
Shares of Vantage Drilling (NYSE:VTG) traded up 2.33% on Tuesday, hitting $1.76. 1,731,069 shares of the company’s stock traded hands. Vantage Drilling has a 52-week low of $1.59 and a 52-week high of $2.02. The stock has a 50-day moving average of $1.86 and a 200-day moving average of $1.76. The company has a market cap of $538.9 million and a P/E ratio of 7.54.
Vantage Drilling (NYSE:VTG) last announced its earnings results on Tuesday, August 5th. The company reported $0.05 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.06 by $0.01. The company had revenue of $219.72 million for the quarter, compared to the consensus estimate of $219.36 million. During the same quarter last year, the company posted $0.01 earnings per share. Vantage Drilling’s revenue was up 28.8% compared to the same quarter last year. On average, analysts predict that Vantage Drilling will post $0.23 earnings per share for the current fiscal year.
Vantage Drilling Company (NYSE:VTG) is an international offshore drilling company focused on operating a fleet of drilling units.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.