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How the Market Viewed Weatherford International on May 12

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Part 4
How the Market Viewed Weatherford International on May 12 PART 4 OF 4

Weatherford International’s Short Interest on May 12

Short interest in Weatherford International

Weatherford International’s (WFT) short interest as a percentage of its float was 14.9% on May 12, 2017, compared to ~14% on March 31, 2017. Since the end of 1Q17, WFT’s short interest has increased 6%. As noted in the graph below, WFT’s stock price and short interest as a percentage of float have been inversely related since May 2015.

WFT makes up 3.1% of the iShares US Oil Equipment & Services ETF (IEZ). WFT also comprises 0.02% of the iShares Russell 3000 ETF (IWV), and the energy sector makes up 5.8% of IWV. IWV tracks the Russell 3000 Index (RUA-INDEX). The RUA-INDEX increased 19% in the past year versus an 11% fall in WFT’s stock price.Weatherford International&#8217;s Short Interest on May 12

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Implications of short interest in Weatherford International

Short interest is the number of shares sold short, divided by the number of shares outstanding. A rise in short interest as a percentage of float, or a rise in short interest, indicates that more investors expect the stock’s price to fall. 

Since March 31, 2017, WFT’s stock price has decreased ~24%, reflecting the rise in short interest. However, investors should note that the market could go against investors’ sentiment.

You can learn more about the OFS industry in Market Realist’s What Oilfield Services Companies’ Forward Multiples Indicate.

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