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Shares of Paragon Offshore PLC (NYSE:PGN) were the target of a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 11,465,016 shares, a growth of 5,732,408.0% from the July 31st total of 200 shares, American Banking News.com reports. Based on an average daily volume of 5,892,198 shares, the days-to-cover ratio is presently 1.9 days. Approximately 13.8% of the shares of the stock are sold short.

Several analysts have recently commented on the stock. Analysts at Jefferies Group initiated coverage on shares of Paragon Offshore PLC in a research note on Wednesday, August 13th. They set a “hold” rating on the stock. Analysts at Stephens initiated coverage on shares of Paragon Offshore PLC in a research note on Monday, August 4th. They set an “equal weight” rating on the stock.

Shares of Paragon Offshore PLC (NYSE:PGN) opened at 8.62 on Friday. Paragon Offshore PLC has a 1-year low of $8.57 and a 1-year high of $17.50. The stock’s 50-day moving average is $10.1 and its 200-day moving average is $10.1. The company has a market cap of $730.6 million and a P/E ratio of 1.79.

Paragon Offshore plc is a provider of offshore drilling units serving the oil and gas industry. The Company’s fleet consists of 42 mobile offshore drilling units (NYSE:PGN) (34 jackups, five drillships and three semisubmersibles), one floating production, storage and offtake (FPSO) and conduct contract labor operations on the Hibernia Platform offshore eastern Canada.

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