Short Interest Update on Dril-Quip (DRQ)

Dril-Quip (DRQ) : The short interest in Dril-Quip (DRQ) has increased from 2,536,574 to 2,731,772 from Jul 29, 2016, to August 15, 2016, indicating that the traders are bearish on the stock. On an average, 429,296 shares are traded daily in the stock and only 6 days are left for the shorts to cover. The short open interest is 7.3% of the total shares in the hands of the public. The shorts in the stock have gone up by 195,198 shares, which is an increase of 7.7% over the previous reading. The short interest information was released on Wednesday Aug 24th after the market close.

Dril-Quip (NYSE:DRQ): The stock opened at $57.67 on Wednesday but the bulls could not build on the opening and the stock topped out at $58.30 for the day. The stock traded down to $57.48 during the day, due to lack of any buying support eventually closed down at $57.72 with a loss of -0.41% for the day. The stock had closed at $57.96 on the previous day. The total traded volume was 345,346 shares.


In a related news, The Securities and Exchange Commission has divulged that Gariepy James A., (SR V.P. and COO) of Dril-Quip Inc, had unloaded 3,095 shares at an average price of $60.69 in a transaction dated on October 29, 2015. The total value of the transaction was worth $187,836.

Dril-Quip, Inc. designs, manufactures, sells and services engineered offshore drilling and production equipment. The Companys equipment is suited for use in deepwater, harsh environments and service applications. The Companys operates in Western Hemisphere, including North and South America; Eastern Hemisphere, including Europe and Africa and Asia-Pacific, including the Pacific Rim, Southeast Asia, Australia, India and the Middle East. It products include subsea equipment, surface equipment and offshore rig equipment. Its products are used to explore for oil and gas from offshore drilling rigs, such as floating rigs and jack-up rigs, and for drilling and production of oil and gas wells on offshore platforms, TLPs, Spars and moored vessels, such as FPSOs. Its services include technical advisory assistance services, reconditioning of its customer-owned products, and rental of running tools for installation and retrieval of its products.

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