Franks International N.V. (FI) : Traders are increasing their bearish positions on the stock, as is visible by the 14.6% jump in the outstanding short positions; a total addition of 1,159,237 shares on the sell side. On Jul 29, 2016, the total short positions were 7,939,578 shares, which went up to 9,098,815 shares by the close of trading on August 15, 2016. It will take 17 days for the bears to roll over or cover. An average of 533,108 shares exchange hands daily. 14.7% of the float of the stock has been sold short by the bears. The short interest information was released on Wednesday Aug 24th after the market close.
Franks International N.V. (NYSE:FI): The stock opened at $12.60 on Wednesday but the bulls could not build on the opening and the stock topped out at $12.66 for the day. The stock traded down to $12.31 during the day, due to lack of any buying support eventually closed down at $12.37 with a loss of -2.68% for the day. The stock had closed at $12.71 on the previous day. The total traded volume was 810,548 shares.
In a related news, The Securities and Exchange Commission has divulged that Latiolais Burney J. Jr., officer (See Remarks) of Franks International N.V., had unloaded 3,672 shares at an average price of $15.24 in a transaction dated on March 4, 2016. The total value of the transaction was worth $55,961.
Franks International N.V. (FINV) is a provider of engineered tubular services to the exploration and production companies in both offshore and onshore environments. The Company operates through three business segments: International Services, U. S. Services and Tubular Sales. The International Services segment provides tubular services to exploration and production companies in international offshore markets and in several onshore international regions in approximately 60 countries on six continents. The U.S. Services segment provides tubular services in the active onshore oil and gas drilling regions in the United States, including the Permian Basin, Bakken Shale, Barnett Shale, Eagle Ford Shale, Haynesville Shale, Marcellus Shale and Utica Shale, as well as in the United States Gulf of Mexico. The Tubular Sales segment designs, manufactures and distributes outside diameter (OD) pipe, connectors and casing attachments.