Short Interest in Ranger Energy Services Inc (NYSE:RNGR) Expands By 78.1%

Ranger Energy Services Inc (NYSE:RNGR) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 38,300 shares, an increase of 78.1% from the July 31st total of 21,500 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average trading volume of 9,000 shares, the days-to-cover ratio is currently 4.3 days.

Several analysts have recently issued reports on RNGR shares. ValuEngine upgraded Ranger Energy Services from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 27th. Zacks Investment Research downgraded Ranger Energy Services from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Finally, Wells Fargo & Co decreased their price target on Ranger Energy Services from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Ranger Energy Services presently has an average rating of “Hold” and an average price target of $9.96.

Shares of NYSE RNGR traded down $0.08 during trading hours on Friday, hitting $6.51. 1,656 shares of the company’s stock were exchanged, compared to its average volume of 6,279. Ranger Energy Services has a 1-year low of $4.70 and a 1-year high of $8.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 1.13. The stock has a market capitalization of $102.07 million, a price-to-earnings ratio of 14.49 and a beta of 3.27. The company’s 50-day moving average price is $6.38 and its 200-day moving average price is $7.01.

Ranger Energy Services (NYSE:RNGR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.12). Ranger Energy Services had a return on equity of 3.13% and a net margin of 1.79%. The business had revenue of $84.30 million for the quarter, compared to analyst estimates of $91.73 million. On average, research analysts expect that Ranger Energy Services will post 0.71 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of RNGR. Creative Planning acquired a new position in shares of Ranger Energy Services during the 2nd quarter worth about $132,000. Royal Bank of Canada lifted its position in shares of Ranger Energy Services by 250,000.0% during the 2nd quarter. Royal Bank of Canada now owns 7,503 shares of the company’s stock worth $60,000 after purchasing an additional 7,500 shares during the last quarter. Private Capital Group LLC acquired a new position in shares of Ranger Energy Services during the 2nd quarter worth about $32,000. Finally, BlackRock Inc. lifted its position in shares of Ranger Energy Services by 15.5% during the 2nd quarter. BlackRock Inc. now owns 14,358 shares of the company’s stock worth $115,000 after purchasing an additional 1,928 shares during the last quarter. 26.76% of the stock is owned by institutional investors and hedge funds.

Ranger Energy Services Company Profile

Ranger Energy Services, Inc provides well service rigs and related services in the United States. It operates through three segments: High Specification Rigs, Completion and Other Services, and Processing Solutions. The company offers well completion support services, such as milling out composite plugs used during hydraulic fracturing, wireline, and snubbing services; workover services, including retrieval and replacement of existing production tubing; well maintenance services comprising replacement of downhole artificial lift components; and decommissioning services consisting of plugging and abandonment services.

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