Doubtful. Shorts drying up, time to move up!
PARAGON OFFSHORE PLC ORD UNITED (OTCMKTS:PGNPQ) Shorted Shares Decreased By 2.3%
by Linda Rogers — April 4, 2016
The stock of PARAGON OFFSHORE PLC ORD UNITED (OTCMKTS:PGNPQ) registered a decrease of 2.3% in short interest. PGNPQ’s total short interest was 4.91 million shares in April as published by FINRA. Its down 2.3% from 5.03M shares, reported previously. With 582,300 shares average volume, it will take short sellers 8 days to cover their PGNPQ’s short positions. The stock is down 13.24% or $0.035 after the news, hitting $0.23 per share. About 195,660 shares traded hands. Paragon Offshore PLC (OTCMKTS:PGNPQ) has declined 59.09% since August 26, 2015 and is downtrending. It has underperformed by 65.91% the S&P500.
Paragon Offshore plc is a global well-known provider of offshore drilling rigs with a fleet that includes approximately 34 jackups and six floaters (four drillships and two semisubmersibles). The company has a market cap of $19.91 million. The Firm refers to its semisubmersibles and drillships collectively as floaters. It currently has negative earnings. The Company’s primary business is to contract its drilling rigs, related equipment and work crews to conduct gas and oil drilling and work over activities for its exploration and production clients on a day rate basis around the world.
