Precision Drilling Corporation (NYSE:PDS) Reports Increase in Sellers; Strong Momentum for Short Players

June 17, 2018 - By Stephen Andrade

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The stock of Precision Drilling Corporation (NYSE:PDS) registered an increase of 29.4% in short interest. PDS’s total short interest was 7.57 million shares in June as published by FINRA. Its up 29.4% from 5.85M shares, reported previously. With 1.83 million shares average volume, it will take short sellers 4 days to cover their PDS’s short positions. The short interest to Precision Drilling Corporation’s float is 2.59%.

The stock decreased 7.87% or $0.27 during the last trading session, reaching $3.16. About 2.15 million shares traded or 25.65% up from the average. Precision Drilling Corporation (NYSE:PDS) has declined 4.81% since June 17, 2017 and is downtrending. It has underperformed by 17.38% the S&P500.

Precision Drilling Corporation provides oil and natural gas drilling and related services and products. The company has market cap of $934.12 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 3 analysts covering Precision Drilling Corporation Common Stock (NYSE:PDS), 1 have Buy rating, 0 Sell and 2 Hold. Therefore 33% are positive. Precision Drilling Corporation Common Stock had 3 analyst reports since February 27, 2018 according to SRatingsIntel. Credit Suisse maintained it with “Neutral” rating and $3.4 target in Tuesday, February 27 report. Piper Jaffray maintained the shares of PDS in report on Thursday, April 5 with “Buy” rating. The stock has “Equal-Weight” rating by Morgan Stanley on Wednesday, April 11.

More news for Precision Drilling Corporation (NYSE:PDS) were recently published by: Seekingalpha.com, which released: “Precision Drilling announces note redemption and operational update” on June 12, 2018. Nasdaq.com‘s article titled: “New Research: Key Drivers of Growth for Klondex Mines, Sogou Inc., Nokia, HDFC Bank, Crescent Point Energy, and …” and published on June 08, 2018 is yet another important article.

Precision Drilling Corporation (NYSE:PDS) Ratings Chart

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