Aker Solutions ASA (OTCMKTS:AKRTF) Sees Large Increase in Short Interest

Aker Solutions ASA (OTCMKTS:AKRTF) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 1,702,408 shares, an increase of 218.4% from the July 15th total of 534,625 shares. Based on an average daily trading volume, of 208 shares, the days-to-cover ratio is presently 8,184.7 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AKRTF shares. Barclays downgraded shares of Aker Solutions ASA from an “equal weight” rating to an “underweight” rating in a research note on Monday, April 20th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Aker Solutions ASA in a report on Wednesday, May 13th. Finally, Pareto Securities lowered shares of Aker Solutions ASA from a “buy” rating to a “hold” rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Aker Solutions ASA Price Performance

Aker Solutions ASA stock opened at $4.45 on Thursday. The business has a 50 day moving average price of $4.56 and a two-hundred day moving average price of $4.35. Aker Solutions ASA has a 12 month low of $2.65 and a 12 month high of $5.15.

About Aker Solutions ASA

Aker Solutions ASA is a Norway‐based engineering and technology company primarily serving the oil and gas industry. The firm specializes in the design, engineering, procurement, construction and commissioning of offshore platforms, topside modules and subsea systems. Its product portfolio includes subsea production systems, umbilicals, risers and flowlines, as well as maintenance and modification services for offshore installations.

In addition to its core oilfield services, Aker Solutions has expanded into energy transition markets.