SBM Offshore (OTCMKTS:SBFFY) Sees Significant Drop in Short Interest

SBM Offshore (OTCMKTS:SBFFY) was the recipient of a large decrease in short interest during the month of January. As of January 30th, there was short interest totaling 1 shares, a decrease of 99.9% from the January 15th total of 1,189 shares. Based on an average daily volume of 1,879 shares, the short-interest ratio is currently 0.0 days. Based on an average daily volume of 1,879 shares, the short-interest ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

Separately, Barclays upgraded SBM Offshore from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 19th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company has a consensus rating of “Strong Buy”.

SBM Offshore Stock Performance

SBFFY opened at $35.64 on Thursday. The business has a 50 day moving average price of $31.35 and a two-hundred day moving average price of $28.13. SBM Offshore has a 1-year low of $19.47 and a 1-year high of $36.15.

About SBM Offshore

SBM Offshore is a Netherlands‐based provider of floating production, storage and offloading (FPSO) vessels and related services to the offshore oil and gas industry. Founded in 1965 as part of Royal IHC and listed as an independent entity in 2005, the company has established itself as a specialist in the design, engineering, construction and leasing of floating production systems. Headquartered in Schiedam, the firm leverages decades of experience in turret mooring technology and deepwater installations to serve oil and gas operators worldwide.

The company’s core offerings include turnkey FPSO solutions, which encompass front‐end engineering design, detailed engineering, procurement, construction, installation and commissioning.