Civeo Corporation (NYSE:CVEO) Short Interest Update

Key Points

• Civeo Corporation experienced a significant decline in short interest of 20.9% in August, with short interest totaling 317,000 shares.
• Institutional investors own 81.44% of Civeo's stock, with firms like Lazard increasing their holdings by 24.0% in the fourth quarter.
• Despite having a Buy rating from one analyst, Wall Street Zen downgraded Civeo to a sell rating, with a consensus price target of $27.00.

Civeo Corporation (NYSE:CVEO - Get Free Report) saw a significant decline in short interest during the month of August. As of August 15th, there was short interest totaling 317,000 shares, adeclineof20.9% from the July 31st total of 400,700 shares. Based on an average daily volume of 78,500 shares, the days-to-cover ratio is currently 4.0 days. Approximately2.8% of the company's shares are short sold. Approximately2.8% of the company's shares are short sold. Based on an average daily volume of 78,500 shares, the days-to-cover ratio is currently 4.0 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CVEO. BNP Paribas Financial Markets acquired a new stake in Civeo during the 4th quarter valued at approximately $94,000. Balyasny Asset Management L.P. acquired a new position in Civeo in the fourth quarter valued at about $1,941,000. Lazard Asset Management LLC lifted its position in Civeo by 24.0% in the fourth quarter. Lazard Asset Management LLC now owns 21,492 shares of the business services provider's stock valued at $488,000 after buying an additional 4,158 shares during the last quarter. Millennium Management LLC lifted its position in shares of Civeo by 18.2% during the fourth quarter. Millennium Management LLC now owns 80,055 shares of the business services provider's stock worth $1,819,000 after purchasing an additional 12,299 shares in the last quarter. Finally, Meros Investment Management LP raised its holdings in Civeo by 28.9% in the fourth quarter. Meros Investment Management LP now owns 109,761 shares of the business services provider's stock valued at $2,494,000 after acquiring an additional 24,637 shares in the last quarter. Hedge funds and other institutional investors own 81.44% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Civeo from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $27.00.

Civeo Stock Down 1.8%

NYSE:CVEO traded down $0.43 during mid-day trading on Tuesday, hitting $22.97. 100,893 shares of the company's stock were exchanged, compared to its average volume of 91,186. Civeo has a one year low of $18.01 and a one year high of $28.92. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.51 and a quick ratio of 1.45. The business has a fifty day moving average price of $23.65 and a 200 day moving average price of $22.23. The company has a market cap of $288.26 million, a PE ratio of -9.45 and a beta of 1.30.

Civeo (NYSE:CVEO - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.22). The company had revenue of $162.69 million for the quarter, compared to analysts' expectations of $166.38 million. Civeo had a negative net margin of 5.25% and a negative return on equity of 12.76%. During the same period in the previous year, the firm earned $0.57 earnings per share. Civeo has set its FY 2025 guidance at EPS. Equities analysts predict that Civeo will post -0.58 EPS for the current year.

Civeo Company Profile

Civeo Corporation provides hospitality services to the natural resource industry in Canada, Australia, and the United States. The company develops lodges and villages; and mobile assets, including modular, skid-mounted accommodation, and central facilities that provide short to medium-term accommodation needs.

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