FTS International (NYSE:FTSI) was the recipient of a significant growth in short interest in the month of March. As of March 29th, there was short interest totalling 2,261,060 shares, a growth of 98.2% from the March 15th total of 1,140,859 shares. Currently, 7.4% of the company’s stock are sold short. Based on an average trading volume of 801,980 shares, the short-interest ratio is presently 2.8 days.
In other news, CFO Lance D. Turner acquired 4,500 shares of FTS International stock in a transaction on Tuesday, February 6th. The stock was purchased at an average price of $18.00 per share, with a total value of $81,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Doss acquired 10,000 shares of FTS International stock in a transaction on Tuesday, February 6th. The stock was purchased at an average cost of $18.00 per share, with a total value of $180,000.00. The disclosure for this purchase can be found here. Insiders acquired 631,500 shares of company stock valued at $11,367,000 in the last three months.
Shares of NYSE:FTSI opened at $18.64 on Tuesday. The company has a current ratio of 2.77, a quick ratio of 2.53 and a debt-to-equity ratio of -1.36. FTS International has a 12-month low of $15.02 and a 12-month high of $21.52.
FTS International (NYSE:FTSI) last announced its earnings results on Friday, March 9th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.25). The company had revenue of $458.70 million during the quarter, compared to the consensus estimate of $459.00 million. research analysts expect that FTS International will post 4.64 earnings per share for the current fiscal year.
A number of equities research analysts have commented on FTSI shares. Piper Jaffray started coverage on FTS International in a research note on Tuesday, February 27th. They issued an “overweight” rating for the company. Credit Suisse Group started coverage on FTS International in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $26.00 price objective for the company. Morgan Stanley started coverage on FTS International in a research note on Tuesday, February 27th. They issued an “overweight” rating and a $30.00 price objective for the company. Evercore ISI started coverage on FTS International in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $27.00 price objective for the company. Finally, Cowen reissued a “buy” rating and issued a $23.00 price objective on shares of FTS International in a research note on Friday. Nine equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of $29.29.
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About FTS International
FTS International, Inc provides hydraulic fracturing services in North America. Its services enhance hydrocarbon flow from oil and natural gas wells drilled by exploration and production companies (E&P), in shale and other unconventional resource formations. The company's wireline services primarily consist of setting plugs between hydraulic fracturing stages, creating perforations within hydraulic fracturing stages, and logging the characteristics of resource formations.
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