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How National Oilwell Varco’s Short Interest Compares

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Apr. 21 2018, Updated 10:31 a.m. ET

Short interest in National Oilwell Varco

Short interest in National Oilwell Varco (NOV) as a percentage of its float was 6.1% as of April 16, 2018. In the past year, NOV’s short interest has fallen 14%, while its stock price has risen ~1%, meaning investors may have more negative bets on NOV.

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Short interest in National Oilwell Varco’s peers over the last year

  • Nabors Industries’ (NBR) short interest has risen 25.6%, while its stock price has fallen 44%.
  • U.S. Silica’s (SLCA) short interest has risen 23%, while its stock price has fallen 39%.
  • Flotek Industries’ (FTK) short interest has fallen 35%, while its stock price has fallen 45%.

Therefore, investors have reduced their negative bets on FTK, and increased their negative bets on NBR and SLCA. Typically, more investors expect a stock’s price to fall if its short interest increases. Let’s check National Oilwell Varco’s correlation with crude oil in the next part of this series.

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