After Reaching Milestone, Is Precision Drilling Corporation (NYSE:PDS)’s Short Interest Revealing Something?

April 17, 2018 - By Adrian Erickson

Precision Drilling Corporation (NYSE:PDS) Logo

The stock of Precision Drilling Corporation (NYSE:PDS) registered a decrease of 38.08% in short interest. PDS’s total short interest was 6.04M shares in April as published by FINRA. Its down 38.08% from 9.75M shares, reported previously. With 1.76 million shares average volume, it will take short sellers 3 days to cover their PDS’s short positions. The short interest to Precision Drilling Corporation’s float is 2.07%.

The stock increased 2.63% or $0.08 during the last trading session, reaching $3.12. About 642,223 shares traded. Precision Drilling Corporation (NYSE:PDS) has declined 37.64% since April 17, 2017 and is downtrending. It has underperformed by 49.19% the S&P500.

Precision Drilling Corporation provides oil and natural gas drilling and related services and products. The company has market cap of $914.88 million. The firm operates in two divisions, Contract Drilling Services, and Completion and Production Services. It currently has negative earnings. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.

Precision Drilling Corporation (NYSE:PDS) Ratings Coverage

Among 4 analysts covering Precision Drilling (NYSE:PDS), 2 have Buy rating, 0 Sell and 2 Hold. Therefore 50% are positive. Precision Drilling had 5 analyst reports since October 18, 2017 according to SRatingsIntel. Credit Suisse maintained Precision Drilling Corporation (NYSE:PDS) rating on Tuesday, February 27. Credit Suisse has “Neutral” rating and $3.4 target. Piper Jaffray maintained the stock with “Buy” rating in Friday, October 27 report. Piper Jaffray maintained Precision Drilling Corporation (NYSE:PDS) rating on Thursday, April 5. Piper Jaffray has “Buy” rating and $3.5000 target. The company was maintained on Wednesday, April 11 by Morgan Stanley. The stock of Precision Drilling Corporation (NYSE:PDS) earned “Buy” rating by Cowen & Co on Wednesday, October 18.

Precision Drilling Corporation (NYSE:PDS) Ratings Chart

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