McDermott International Inc (NYSE:MDR) Short Interest Up 23.5% in May

McDermott International Inc (NYSE:MDR) saw a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 50,655,600 shares, a growth of 23.5% from the April 30th total of 41,033,200 shares. Based on an average daily trading volume, of 4,870,000 shares, the days-to-cover ratio is presently 10.4 days. Currently, 28.3% of the company’s shares are sold short.

Institutional investors have recently modified their holdings of the business. Quantamental Technologies LLC purchased a new position in McDermott International during the 1st quarter valued at $39,000. Penserra Capital Management LLC grew its position in shares of McDermott International by 96.8% in the 4th quarter. Penserra Capital Management LLC now owns 5,368 shares of the oil and gas company’s stock worth $35,000 after buying an additional 2,640 shares during the period. Icon Wealth Partners LLC purchased a new stake in shares of McDermott International in the 1st quarter worth about $46,000. Investors Research Corp purchased a new stake in shares of McDermott International in the 1st quarter worth about $63,000. Finally, BB&T Securities LLC purchased a new stake in shares of McDermott International in the 4th quarter worth about $66,000. 86.56% of the stock is currently owned by institutional investors and hedge funds.

NYSE:MDR traded up $0.34 during midday trading on Thursday, reaching $8.18. 213,407 shares of the stock traded hands, compared to its average volume of 4,511,287. McDermott International has a 12 month low of $5.91 and a 12 month high of $21.09. The company has a quick ratio of 0.68, a current ratio of 0.70 and a debt-to-equity ratio of 5.61. The firm has a market capitalization of $1.39 billion, a P/E ratio of -8.29 and a beta of 2.80.

McDermott International (NYSE:MDR) last issued its quarterly earnings data on Monday, April 29th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.07). The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. McDermott International had a negative net margin of 33.44% and a negative return on equity of 5.13%. The firm’s revenue for the quarter was up 263.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 earnings per share. As a group, analysts anticipate that McDermott International will post 1.66 EPS for the current year.

A number of equities research analysts recently commented on the stock. TheStreet lowered shares of McDermott International from a “c-” rating to a “d” rating in a report on Monday, March 11th. ValuEngine upgraded shares of McDermott International from a “strong sell” rating to a “sell” rating in a report on Friday, March 1st. Finally, Zacks Investment Research lowered shares of McDermott International from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. The company has a consensus rating of “Hold” and an average target price of $23.50.

McDermott International Company Profile

McDermott International, Inc provides engineering, procurement, construction and installation, and technology solutions to the energy industry worldwide. It operates through five segments: North, Central and South America; Europe, Africa, Russia and Caspian; the Middle East and North Africa; Asia Pacific; and Technology.

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