Short Interest in Aker Solutions ASA (OTCMKTS:AKRTF) Declines By 33.2%

Aker Solutions ASA (OTCMKTS:AKRTF) was the target of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 308,149 shares, a decline of 33.2% from the May 14th total of 461,275 shares. Based on an average daily volume of 426 shares, the short-interest ratio is presently 723.4 days.

Analyst Upgrades and Downgrades

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

Aker Solutions ASA Stock Performance

Shares of AKRTF opened at $4.85 on Tuesday. Aker Solutions ASA has a 12-month low of $2.65 and a 12-month high of $5.15. The stock’s 50-day moving average price is $4.69 and its 200 day moving average price is $3.93.

Aker Solutions ASA Company Profile

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.