Team, Inc. (NYSE:TISI) Short Interest Down 20.8% in October

Team, Inc. (NYSE:TISI) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 16,800 shares, a decrease of 20.8% from the October 15th total of 21,200 shares. Based on an average trading volume of 29,500 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.4% of the company’s stock are sold short.

Institutional Investors Weigh In On Team

Several hedge funds and other institutional investors have recently made changes to their positions in TISI. Renaissance Technologies LLC acquired a new stake in shares of Team in the second quarter worth $118,000. Geode Capital Management LLC grew its position in Team by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 42,438 shares of the business services provider’s stock worth $647,000 after purchasing an additional 3,973 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Team by 7.3% during the 3rd quarter. Barclays PLC now owns 274,706 shares of the business services provider’s stock worth $4,189,000 after purchasing an additional 18,733 shares during the period. 46.57% of the stock is owned by institutional investors and hedge funds.

Team Price Performance

NYSE:TISI traded down $1.22 during midday trading on Friday, reaching $14.28. The stock had a trading volume of 20,782 shares, compared to its average volume of 49,671. Team has a 1-year low of $5.05 and a 1-year high of $26.77. The company has a debt-to-equity ratio of 17.55, a quick ratio of 1.59 and a current ratio of 1.80. The firm’s fifty day simple moving average is $18.48 and its 200-day simple moving average is $12.43.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Team from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th.

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.