TechnipFMC plc (NYSE:FTI) Sees Large Increase in Short Interest

TechnipFMC plc (NYSE:FTI) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 14,540,000 shares, a growth of 31.1% from the August 15th total of 11,090,000 shares. Based on an average daily volume of 5,360,000 shares, the days-to-cover ratio is presently 2.7 days. Currently, 3.5% of the company’s shares are sold short.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp raised its holdings in TechnipFMC by 70.0% in the second quarter. Van ECK Associates Corp now owns 13,173,231 shares of the oil and gas company’s stock valued at $119,218,000 after buying an additional 5,423,524 shares during the period. Vident Investment Advisory LLC purchased a new stake in shares of TechnipFMC during the first quarter valued at approximately $1,254,000. SG Americas Securities LLC raised its stake in shares of TechnipFMC by 236.2% during the first quarter. SG Americas Securities LLC now owns 1,141,071 shares of the oil and gas company’s stock valued at $8,809,000 after purchasing an additional 801,676 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of TechnipFMC during the second quarter valued at approximately $130,000. Finally, Factorial Partners LLC raised its stake in shares of TechnipFMC by 6.8% during the second quarter. Factorial Partners LLC now owns 78,000 shares of the oil and gas company’s stock valued at $706,000 after purchasing an additional 5,000 shares during the period. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Separately, Cowen upped their target price on TechnipFMC from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday, June 17th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. According to data from, the stock presently has a consensus rating of “Hold” and an average price target of $10.34.

Shares of NYSE:FTI traded down $0.38 during trading on Monday, reaching $6.67. 162,733 shares of the stock were exchanged, compared to its average volume of 8,157,491. The firm’s 50-day moving average price is $6.99 and its 200 day moving average price is $7.93. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 19.59 and a beta of 2.26. TechnipFMC has a 12-month low of $5.11 and a 12-month high of $13.04. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.26 and a current ratio of 1.56.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Wednesday, July 21st. The oil and gas company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.05). TechnipFMC had a net margin of 1.57% and a return on equity of 1.40%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the business posted $0.09 EPS. The company’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, equities research analysts forecast that TechnipFMC will post -0.06 EPS for the current year.

About TechnipFMC

TechnipFMC Plc is an energy service company, which engages in the provision of solutions for the production and transformation of hydrocarbons. It operates through the following segments: Subsea and Surface Technologies. The Subsea segment engages in designing, engineering, procurement, manufacturing, fabrication and installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.

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