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

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

Analysts Set New Price Targets

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

Aker Solutions ASA Price Performance

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

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.