Seadrill Limited (SDRL) Sees Large Drop in Short Interest
Seadrill Limited (NYSE:SDRL) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 62,292,495 shares, a drop of 5.4% from the August 15th total of 65,840,392 shares. Currently, 17.5% of the company’s shares are sold short. Based on an average trading volume of 6,317,599 shares, the short-interest ratio is currently 9.9 days.
Several research analysts have recently weighed in on SDRL shares. ValuEngine lowered Seadrill Limited from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. BidaskClub raised Seadrill Limited from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Societe Generale lowered Seadrill Limited from a “hold” rating to a “sell” rating in a research report on Wednesday, May 31st.
Shares of Seadrill Limited (SDRL) opened at 0.4779 on Thursday. The company has a 50-day moving average price of $0.28 and a 200-day moving average price of $0.60. Seadrill Limited has a 12 month low of $0.15 and a 12 month high of $4.59. The company’s market capitalization is $241.07 million.
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Seadrill Limited Company Profile
Seadrill Limited is an offshore drilling contractor providing offshore drilling services to the oil and gas industry. The Company’s primary business is the ownership and operation of drillships, semi-submersible rigs and jack-up rigs for operations in shallow-, mid-, deep-, and ultra deepwater areas, and in benign and harsh environments.
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