SBM Offshore (OTCMKTS:SBFFY) Short Interest Down 99.9% in January

SBM Offshore (OTCMKTS:SBFFY) was the target of a large decrease in short interest in January. As of January 30th, there was short interest totaling 1 shares, a decrease of 99.9% from the January 15th total of 1,189 shares. Based on an average trading volume of 1,879 shares, the days-to-cover ratio is presently 0.0 days. Based on an average trading volume of 1,879 shares, the days-to-cover ratio is presently 0.0 days.

SBM Offshore Price Performance

Shares of OTCMKTS SBFFY traded up $0.26 during mid-day trading on Tuesday, hitting $35.26. 600 shares of the company were exchanged, compared to its average volume of 869. The stock has a 50 day simple moving average of $31.21 and a 200-day simple moving average of $28.08. SBM Offshore has a 1-year low of $19.47 and a 1-year high of $36.15.

Analysts Set New Price Targets

Separately, Barclays raised shares of SBM Offshore from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 19th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Strong Buy”.

About SBM Offshore

SBM Offshore is a Netherlands‐based provider of floating production, storage and offloading (FPSO) vessels and related services to the offshore oil and gas industry. Founded in 1965 as part of Royal IHC and listed as an independent entity in 2005, the company has established itself as a specialist in the design, engineering, construction and leasing of floating production systems. Headquartered in Schiedam, the firm leverages decades of experience in turret mooring technology and deepwater installations to serve oil and gas operators worldwide.

The company’s core offerings include turnkey FPSO solutions, which encompass front‐end engineering design, detailed engineering, procurement, construction, installation and commissioning.