Keane Group Inc (NYSE:FRAC) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 8,740,000 shares, an increase of 10.4% from the August 15th total of 7,920,000 shares. Approximately 69.9% of the shares of the company are short sold. Based on an average daily trading volume, of 1,740,000 shares, the short-interest ratio is presently 5.0 days.
Several research analysts have recently issued reports on the stock. R. F. Lafferty cut shares of Keane Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $18.00 to $12.00 in a report on Monday, September 9th. Citigroup cut shares of Keane Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $18.00 to $12.00 in a report on Monday, September 9th. Wells Fargo & Co cut their target price on shares of Keane Group from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Thursday, September 12th. ValuEngine raised shares of Keane Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded shares of Keane Group from a “hold” rating to a “buy” rating and set a $5.75 price target for the company in a research report on Friday. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $13.19.
Large investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. bought a new position in shares of Keane Group during the 2nd quarter worth about $68,000. Point72 Hong Kong Ltd lifted its holdings in shares of Keane Group by 266.9% during the 2nd quarter. Point72 Hong Kong Ltd now owns 11,307 shares of the company’s stock worth $76,000 after acquiring an additional 8,225 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Keane Group by 933.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 11,585 shares of the company’s stock worth $126,000 after acquiring an additional 10,464 shares during the period. Aperio Group LLC bought a new position in shares of Keane Group during the 2nd quarter worth about $81,000. Finally, NumerixS Investment Technologies Inc bought a new position in shares of Keane Group during the 1st quarter worth about $150,000. 90.06% of the stock is owned by institutional investors.
NYSE:FRAC traded up $0.09 during midday trading on Friday, reaching $5.21. The stock had a trading volume of 2,249,193 shares, compared to its average volume of 1,676,441. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.56 and a quick ratio of 1.44. Keane Group has a 1-year low of $4.69 and a 1-year high of $13.91. The firm’s fifty day simple moving average is $5.69 and its 200-day simple moving average is $7.56. The stock has a market capitalization of $553.27 million, a P/E ratio of 5.66 and a beta of 1.38.
Keane Group (NYSE:FRAC) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.11. Keane Group had a net margin of 0.53% and a return on equity of 7.21%. The firm had revenue of $427.70 million during the quarter, compared to the consensus estimate of $413.63 million. During the same period in the prior year, the firm earned $0.28 EPS. The business’s revenue was down 26.1% on a year-over-year basis. On average, equities research analysts anticipate that Keane Group will post -0.12 earnings per share for the current fiscal year.
About Keane Group
Keane Group, Inc engages in the provision of hydraulic and engineered related solutions. It provides horizontal and vertical fracturing, wireline perforation and logging & engineered, as well as other value-added services. The company operates through two segments: Completion, and Other Services. The Completion Services segment refers to the hydraulic fracturing and wireline divisions.
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