Subsea 7 SA (OTCMKTS:SUBCY) Short Interest Update

Key Points

• Short interest in Subsea 7 SA surged in June, rising 184.5% to 25,509 shares as of June 30 from 8,966 shares on June 15. Despite the jump, short interest still represented 0.0% of the float and only 0.2 days to cover based on average volume.
• The stock traded slightly lower on Monday at $34.13, with 3,262 shares changing hands versus an average volume of 29,340. Subsea 7 remains near its 52-week high of $37.66 and well above its 200-day moving average of $29.49.
• Recent earnings and analyst sentiment were mixed: the company beat revenue expectations but missed EPS estimates in its latest quarter. Analyst coverage currently trends to Hold, with recent downgrades from Barclays and Zacks and UBS reiterating a neutral view.

Subsea 7 SA (OTCMKTS:SUBCY - Get Free Report) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 25,509 shares, an increase of 184.5% from the June 15th total of 8,966 shares. Currently, 0.0% of the company's stock are short sold. Based on an average daily volume of 107,293 shares, the days-to-cover ratio is presently 0.2 days.

Subsea 7 Stock Performance

Shares of Subsea 7 stock traded down $0.19 during trading on Monday, hitting $34.13. 3,262 shares of the company's stock traded hands, compared to its average volume of 29,340. Subsea 7 has a 1 year low of $17.79 and a 1 year high of $37.66. The business has a 50-day simple moving average of $34.80 and a 200-day simple moving average of $29.49. The stock has a market capitalization of $10.09 billion, a P/E ratio of 20.56 and a beta of 1.08. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.11 and a quick ratio of 1.09.

Subsea 7 (OTCMKTS:SUBCY - Get Free Report) last issued its earnings results on Thursday, April 30th. The energy company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). Subsea 7 had a return on equity of 11.38% and a net margin of 6.67%.The business had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.62 billion. As a group, analysts forecast that Subsea 7 will post 2.32 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on SUBCY shares. Barclays downgraded shares of Subsea 7 from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 20th. Zacks Research cut shares of Subsea 7 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 14th. Finally, UBS Group reiterated a "neutral" rating on shares of Subsea 7 in a research note on Tuesday, June 30th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Subsea 7 has a consensus rating of "Hold".

Subsea 7 Company Profile

Subsea 7 SA is a global engineering, construction and services contractor serving the offshore energy industry. The company specializes in complex subsea infrastructure projects, offering pipeline and riser installation, umbilical and flowline deployment, and subsea tie-ins. Its fleet of specialized vessels, diving systems and remotely operated vehicles (ROVs) supports installation, inspection, maintenance and repair activities across the life cycle of offshore oil, gas and renewable energy fields.

With roots tracing back to the merger of Subsea 7 Inc and Acergy SA in 2011, Subsea 7 has built a broad international footprint.

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