Transocean LTD (NYSE:RIG) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 87,203,557 shares, a growth of 6.5% from the January 12th total of 81,852,163 shares. Approximately 24.3% of the shares of the company are sold short. Based on an average daily volume of 13,190,319 shares, the days-to-cover ratio is currently 6.6 days.
RIG has been the topic of a number of analyst reports. ValuEngine cut shares of Transocean from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Zacks Investment Research cut shares of Transocean from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. initiated coverage on shares of Transocean in a research note on Thursday, October 19th. They set a “hold” rating and a $12.00 price objective on the stock. Cowen set a $8.00 price objective on shares of Transocean and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $7.35 price objective on shares of Transocean in a research note on Sunday, October 22nd. Eleven research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $12.11.
Shares of Transocean (NYSE:RIG) opened at $9.51 on Tuesday. Transocean has a one year low of $7.20 and a one year high of $14.33. The stock has a market cap of $3,720.00, a price-to-earnings ratio of -1.33 and a beta of 1.55. The company has a quick ratio of 2.13, a current ratio of 2.36 and a debt-to-equity ratio of 0.51.
COPYRIGHT VIOLATION WARNING: This story was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another site, it was stolen and reposted in violation of US & international copyright legislation. The original version of this story can be read at https://www.americanbankingnews.com/2018/02/13/transocean-ltd-rig-short-interest-update.html.
Transocean Company Profile
Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.
Receive News & Ratings for Transocean Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Transocean and related companies with MarketBeat.com's FREE daily email newsletter.