Digging Up the Facts on Parker Drilling Company (PKD)

Parker Drilling Company (PKD) is an interesting player in the Basic Materials space, with a focus on Oil & Gas Equipment & Services. The stock has been active on the tape, currently trading at $0.60, up from yesterday’s close by 8.69%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

Parker Drilling Company (PKD) currently trades with a market capitalization of $86.87 Million. That value represents a market adjusting for revenues that have been growing by 23.73 % on a quarterly year/year basis as of the company’s last quarterly report.

You can get a sense of how sustainable that is by a levered free cash flow of -$47.81 Million over the past twelve months. Generally speaking, earnings are expected to grow in coming quarters. Analysts are forecasting earnings of -$0.21 on a per share basis this quarter. Perhaps, that suggests something about why 6.12% of the outstanding share supply is held by institutional investors.

Technical Analysis

We’ve taken a serious look at this stock from a fundamental perspective, but the tale of the tape may offer more hints about what lies under the surface. Looking at the stock’s movement on the chart, Parker Drilling Company recorded a 52-week high of $1.80. It is now trading 1.2% off that level. The stock is trading $0.84 its 50-day moving average by 0.24%. The stock carved out a 52-week low down at $0.49.

In recent action, Parker Drilling Company (PKD) has made a move of -25.93% over the past month, which has come on weak relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 14.08, and it’s gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 4.65% with $133.56 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of PKD.

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