Frank’s International (NYSE:FI) Shares Gap Down to $3.05

Frank’s International (NYSE:FI)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $3.05, but opened at $2.64. Frank’s International shares last traded at $2.62, with a volume of 1,043 shares traded.

Separately, Zacks Investment Research upgraded shares of Frank’s International from a “sell” rating to a “hold” rating in a research report on Tuesday, August 3rd.

The firm’s 50-day simple moving average is $2.80 and its 200-day simple moving average is $3.27. The firm has a market capitalization of $639.51 million, a PE ratio of -8.48 and a beta of 1.40.

Frank’s International shares are set to reverse split on the morning of Monday, October 4th. The 1-6 reverse split was announced on Monday, October 4th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, October 4th.

Frank’s International (NYSE:FI) last posted its quarterly earnings results on Tuesday, August 3rd. The pipeline company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.01). Frank’s International had a negative net margin of 18.91% and a negative return on equity of 8.20%. The business had revenue of $107.80 million for the quarter, compared to analysts’ expectations of $104.80 million. During the same quarter in the previous year, the company earned ($0.15) earnings per share. The business’s quarterly revenue was up 13.7% on a year-over-year basis. As a group, equities analysts predict that Frank’s International will post -0.18 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC boosted its holdings in shares of Frank’s International by 14.4% during the second quarter. Parametric Portfolio Associates LLC now owns 33,543 shares of the pipeline company’s stock worth $102,000 after purchasing an additional 4,229 shares during the period. Morgan Stanley boosted its holdings in shares of Frank’s International by 153.1% during the second quarter. Morgan Stanley now owns 396,043 shares of the pipeline company’s stock worth $1,201,000 after purchasing an additional 239,591 shares during the period. Invesco Ltd. boosted its holdings in shares of Frank’s International by 6.0% during the second quarter. Invesco Ltd. now owns 292,846 shares of the pipeline company’s stock worth $888,000 after purchasing an additional 16,586 shares during the period. Millennium Management LLC boosted its holdings in shares of Frank’s International by 420.0% during the second quarter. Millennium Management LLC now owns 651,536 shares of the pipeline company’s stock worth $1,974,000 after purchasing an additional 526,241 shares during the period. Finally, Man Group plc purchased a new stake in shares of Frank’s International during the second quarter worth about $116,000. Institutional investors own 59.10% of the company’s stock.

Frank’s International Company Profile (NYSE:FI)

Frank’s International NV engages in the provision of tubular services to oil and gas industries. It operates through the following four segments: Tubular Running Services, Tubulars and Cementing Equipment. The Tubular Running Services segment provides tubular services in international offshore markets and in several onshore international regions.

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