Civeo Corporation (NYSE:CVEO) Short Interest Up 113.5% in July

Civeo Corporation (NYSE:CVEO) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 1,015,220 shares, an increase of 113.5% from the June 30th total of 475,530 shares. Currently, 9.9% of the company’s shares are short sold. Based on an average daily volume of 225,657 shares, the days-to-cover ratio is presently 4.5 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Civeo from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, June 15th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Civeo has a consensus rating of “Hold” and an average price target of $37.00.

Civeo Trading Down 6.4%

Shares of CVEO stock traded down $2.19 during mid-day trading on Wednesday, reaching $32.20. The company’s stock had a trading volume of 203,829 shares, compared to its average volume of 171,695. The company’s 50 day simple moving average is $33.65 and its 200-day simple moving average is $30.21. Civeo has a 12-month low of $19.75 and a 12-month high of $36.50. The company has a quick ratio of 1.81, a current ratio of 1.88 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $352.21 million, a PE ratio of -27.05 and a beta of 0.73.

Civeo (NYSE:CVEO) last posted its earnings results on Friday, May 1st. The business services provider reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.27. Civeo had a negative net margin of 2.10% and a negative return on equity of 7.72%. The business had revenue of $172.67 million for the quarter, compared to analyst estimates of $154.70 million. On average, research analysts predict that Civeo will post -1.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Civeo

Institutional investors and hedge funds have recently modified their holdings of the stock. Clearstead Advisors LLC raised its holdings in shares of Civeo by 191.8% during the 4th quarter. Clearstead Advisors LLC now owns 1,538 shares of the business services provider’s stock valued at $35,000 after buying an additional 1,011 shares during the period. State of Wyoming purchased a new position in Civeo in the 2nd quarter worth approximately $66,000. Goldman Sachs Group Inc. acquired a new stake in Civeo in the first quarter valued at approximately $204,000. OMERS ADMINISTRATION Corp acquired a new stake in Civeo in the first quarter valued at approximately $217,000. Finally, ExodusPoint Capital Management LP purchased a new stake in shares of Civeo during the fourth quarter valued at approximately $573,000. Hedge funds and other institutional investors own 81.44% of the company’s stock.

About Civeo

Civeo Corporation is a leading provider of workforce accommodations and integrated facility management services, primarily serving the oil and gas, mining, and construction sectors. The company specializes in the development, ownership, and operation of remote lodging facilities, commonly known as “man camps,” designed to house workers in geographically challenging environments. Its services include turnkey accommodations, catering, housekeeping, grounds maintenance, and logistical support, tailored to meet the needs of large-scale energy and resource projects.

With a network of lodges and villages across North America and Australia, Civeo caters to clients operating in regions such as Alberta’s oil sands, the Bakken shale play, and Australia’s Pilbara and Bowen Basin mining districts.