Rowan Companies plc June 15th Short Interest Update

The short interest in Rowan Companies plc (NYSE:RDC) has declined from 23,208,089 on May 31,2016 to 22,228,682 on June 15,2016. The change was measured at 979,407 shares or 4.2%. The leftover shorts were 18% of the floated shares. The days to cover are 7, given the average daily volume of 3,045,356 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Rowan Companies plc (NYSE:RDC): The stock opened at $18.63 on Friday but the bulls could not build on the opening and the stock topped out at $18.92 for the day. The stock traded down to $17.66 during the day, due to lack of any buying support eventually closed down at $17.75 with a loss of -9.21% for the day. The stock had closed at $19.55 on the previous day. The total traded volume was 4,044,520 shares.

The company shares have dropped -14.17% from its 1 Year high price. On Nov 3, 2015, the shares registered one year high at $21.83 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $17.61 and the 200 Day Moving Average price is recorded at $15.83.

Rowan Companies plc (NYSE:RDC) has tumbled 1.55% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 5.15% in the last four weeks. In the past week, the company has outperformed the S&P 500 by 0.08% and the outperformance has advanced to 8.34% for the last 4 weeks period.

Rowan Companies plc (Rowan) is a provider of international and domestic offshore oil and gas contract drilling services. Its operation broadly consists of Drilling Fleet and Contracts. It has a fleet of 30 self-elevating mobile offshore jack-up drilling units and four ultra-deepwater drillships. It conducts offshore drilling operations in the United States Gulf of Mexico (US GOM), the United Kingdom (UK) and Norwegian sectors of the North Sea, the Middle East, West and North Africa, Southeast Asia and Trinidad. The Companys jack-ups are capable of drilling wells to depths ranging from 25,000 to 40,000 feet and in water depths ranging from 250 to 550 feet. Its ultra-deepwater drillships are capable of drilling wells to depths of 40,000 feet and in water depths of 12,000 feet. The Companys drilling contracts provide for a fixed amount of compensation per day, and are either well-to-well, multiple-well or fixed-term generally ranging from one month to several years.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.