Team, Inc. (NYSE:TISI) Sees Significant Decrease in Short Interest

Team, Inc. (NYSE:TISI) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 16,800 shares, a decline of 20.8% from the October 15th total of 21,200 shares. Based on an average daily volume of 29,500 shares, the short-interest ratio is currently 0.6 days. Currently, 0.4% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, StockNews.com downgraded Team from a “strong-buy” rating to a “buy” rating in a research report on Tuesday.

Hedge Funds Weigh In On Team

A hedge fund recently bought a new stake in Team stock. Renaissance Technologies LLC acquired a new position in shares of Team, Inc. (NYSE:TISI) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 13,251 shares of the business services provider’s stock, valued at approximately $118,000. Renaissance Technologies LLC owned 0.30% of Team at the end of the most recent quarter. Hedge funds and other institutional investors own 46.57% of the company’s stock.

Team Stock Down 7.9 %

Shares of TISI traded down $1.22 during midday trading on Friday, hitting $14.28. 20,782 shares of the company’s stock traded hands, compared to its average volume of 18,386. The stock has a market capitalization of $64.05 million, a price-to-earnings ratio of -1.16 and a beta of 1.83. Team has a 1 year low of $5.05 and a 1 year high of $26.77. The company has a current ratio of 1.80, a quick ratio of 1.59 and a debt-to-equity ratio of 17.55. The firm’s fifty day moving average is $18.48 and its 200-day moving average is $12.40.

About Team

Team, Inc, together with its subsidiaries, provides a suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services in the United States, Canada, Europe, and internationally. It operates through Inspection and Heat Treating (IHT) and Mechanical Services (MS) segments.