SBM Offshore (OTCMKTS:SBFFY – Get Free Report) saw a significant drop in short interest in September. As of September 15th, there was short interest totaling 406 shares, a drop of 36.7% from the August 31st total of 641 shares. Based on an average daily trading volume, of 56 shares, the short-interest ratio is currently 7.2 days.
SBM Offshore Stock Performance
Shares of SBM Offshore stock remained flat at $41.70 during trading hours on Thursday. SBM Offshore has a 12 month low of $23.52 and a 12 month high of $44.15. The company’s 50-day moving average price is $40.56 and its 200 day moving average price is $39.76.
Wall Street Analyst Weigh In
Separately, Barclays raised SBM Offshore from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Strong Buy”.
About SBM Offshore
SBM Offshore N.V. is a Netherlands-based company that provides floating production solutions and services to the global offshore energy industry. Its principal activities include the design, construction, installation, lease, and operation of floating production, storage and offloading (FPSO) vessels and related offshore infrastructure.
The company’s FPSO units are used to process hydrocarbons produced from offshore oil and gas fields, store the resulting products, and transfer them to shuttle tankers for transportation.
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