SBM Offshore (OTCMKTS:SBFFY) Sees Large Increase in Short Interest

SBM Offshore (OTCMKTS:SBFFY) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 1,189 shares, a growth of 174.6% from the December 31st total of 433 shares. Based on an average daily volume of 1,021 shares, the days-to-cover ratio is currently 1.2 days. Based on an average daily volume of 1,021 shares, the days-to-cover ratio is currently 1.2 days.

SBM Offshore Stock Performance

SBFFY stock opened at $36.15 on Friday. SBM Offshore has a 1 year low of $17.50 and a 1 year high of $36.15. The stock’s fifty day moving average is $30.19 and its two-hundred day moving average is $27.57.

Wall Street Analysts Forecast Growth

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

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.