Civeo (NYSE:CVEO) Shares Down 6.6%
Shares of Civeo Corp (NYSE:CVEO) were down 6.6% during mid-day trading on Monday . The stock traded as low as $1.10 and last traded at $1.14, approximately 681,096 shares changed hands during trading. An increase of 115% from the average daily volume of 317,445 shares. The stock had previously closed at $1.22.
Several equities analysts have recently issued reports on CVEO shares. ValuEngine upgraded shares of Civeo from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Civeo from a “sell” rating to a “hold” rating in a report on Wednesday, September 25th. Finally, Stifel Nicolaus set a $4.00 target price on shares of Civeo and gave the company a “buy” rating in a report on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Civeo has a consensus rating of “Buy” and a consensus target price of $3.67.
The company’s fifty day moving average price is $1.33 and its 200-day moving average price is $1.64. The stock has a market capitalization of $178.62 million, a PE ratio of -1.64 and a beta of 4.04. The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 0.85.
Several hedge funds have recently added to or reduced their stakes in CVEO. Dimensional Fund Advisors LP increased its position in shares of Civeo by 3.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,351,475 shares of the business services provider’s stock valued at $7,652,000 after acquiring an additional 156,095 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Civeo during the second quarter valued at approximately $34,000. Brave Asset Management Inc. bought a new stake in shares of Civeo during the second quarter valued at approximately $34,000. Moors & Cabot Inc. increased its position in shares of Civeo by 12.8% during the second quarter. Moors & Cabot Inc. now owns 367,350 shares of the business services provider’s stock valued at $633,000 after acquiring an additional 41,800 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Civeo by 148.7% during the second quarter. Envestnet Asset Management Inc. now owns 74,777 shares of the business services provider’s stock valued at $129,000 after acquiring an additional 44,715 shares in the last quarter. Hedge funds and other institutional investors own 66.07% of the company’s stock.
Civeo Company Profile (NYSE:CVEO)
Civeo Corporation provides hospitality services to the natural resource industry in Canada, Australia, the United States, and internationally. The company develops lodges and villages; and mobile accommodations, including modular, skid-mounted accommodation, and central facilities that provide long-term and temporary work force accommodations.
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