Short Interest in Subsea 7 SA (OTCMKTS:SUBCY) Drops By 58.2%

Key Points

• Short interest in Subsea 7 fell 58.2% to 3,902 shares as of August 31, representing 0.0% of shares outstanding and just 0.3 days to cover.
• Analyst sentiment is broadly positive: the stock carries a consensus “Moderate Buy” rating, including a recent upgrade to “Strong Buy” from Rothschild & Co Redburn.
• Subsea 7 exceeded quarterly expectations, reporting $0.85 EPS versus a $0.64 estimate and revenue of $1.93 billion versus $1.91 billion expected.

Subsea 7 SA (OTCMKTS:SUBCY - Get Free Report) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 3,902 shares, a decrease of 58.2% from the August 15th total of 9,336 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 12,747 shares, the days-to-cover ratio is presently 0.3 days.

Analysts Set New Price Targets

SUBCY has been the subject of a number of research analyst reports. Rothschild & Co Redburn upgraded shares of Subsea 7 from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 23rd. UBS Group reaffirmed a "buy" rating on shares of Subsea 7 in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

Subsea 7 Price Performance

Shares of SUBCY stock opened at $34.57 on Friday. Subsea 7 has a 1 year low of $17.79 and a 1 year high of $37.66. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.07. The firm's 50 day moving average is $34.87 and its 200-day moving average is $33.04. The firm has a market capitalization of $10.22 billion, a price-to-earnings ratio of 16.78 and a beta of 1.12.

Subsea 7 (OTCMKTS:SUBCY - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The energy company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.21. Subsea 7 had a net margin of 8.15% and a return on equity of 13.89%. The firm had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.91 billion. Sell-side analysts forecast that Subsea 7 will post 2.66 EPS for the current fiscal year.

Subsea 7 Company Profile

Subsea 7 SA is a global offshore energy services company that designs, engineers and delivers complex projects for the energy industry. Its work spans offshore oil and gas, offshore wind and other emerging energy sectors, with services covering project management, engineering, procurement, construction and installation.

The company provides subsea, umbilicals, risers and flowlines (SURF) services; offshore pipeline and infrastructure installation; subsea inspection, maintenance and repair; and offshore renewable-energy solutions.

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