Civeo Co. (NYSE:CVEO) Sees Large Growth in Short Interest

Civeo Co. (NYSE:CVEO - Get Free Report) saw a significant increase in short interest in May. As of May 15th, there was short interest totalling 290,300 shares, an increase of 18.1% from the April 30th total of 245,900 shares. Based on an average daily volume of 100,800 shares, the days-to-cover ratio is currently 2.9 days. Currently, 2.5% of the company's stock are short sold.

Civeo Price Performance

Shares of NYSE CVEO traded up $0.40 during trading on Friday, hitting $22.85. The company had a trading volume of 81,344 shares, compared to its average volume of 72,090. The company has a market cap of $307.33 million, a P/E ratio of 16.32 and a beta of 1.38. Civeo has a 52 week low of $18.01 and a 52 week high of $28.92. The business's 50-day moving average is $20.60 and its 200 day moving average is $22.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.36.

Civeo (NYSE:CVEO - Get Free Report) last released its earnings results on Wednesday, April 30th. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.78) by $0.06. Civeo had a return on equity of 0.11% and a net margin of 3.00%. The company had revenue of $144.04 million during the quarter, compared to analyst estimates of $150.86 million. Equities research analysts predict that Civeo will post -0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CVEO. Wall Street Zen raised Civeo from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Stifel Nicolaus lowered their target price on Civeo from $28.00 to $27.00 and set a "buy" rating for the company in a report on Friday, May 2nd.

Hedge Funds Weigh In On Civeo

A number of institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets acquired a new stake in Civeo during the fourth quarter valued at approximately $94,000. SG Americas Securities LLC boosted its position in Civeo by 42.4% in the 4th quarter. SG Americas Securities LLC now owns 6,552 shares of the business services provider's stock valued at $149,000 after buying an additional 1,950 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Civeo in the 1st quarter valued at $204,000. Mackenzie Financial Corp acquired a new position in shares of Civeo in the 4th quarter valued at $386,000. Finally, JPMorgan Chase & Co. increased its position in shares of Civeo by 4.8% in the 4th quarter. JPMorgan Chase & Co. now owns 19,707 shares of the business services provider's stock valued at $448,000 after buying an additional 894 shares in the last quarter. 81.44% of the stock is currently owned by institutional investors.

About Civeo

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.