Short Interest Update on Precision Drilling Corporation (PDS)

Precision Drilling Corporation (PDS) : The short interest in Precision Drilling Corporation (PDS) has increased from 25,940,801 to 28,547,943 from Jul 29, 2016, to August 15, 2016, indicating that the traders are bearish on the stock. On an average, 1,795,212 shares are traded daily in the stock and only 16 days are left for the shorts to cover. The short open interest is 9.8% of the total shares in the hands of the public. The shorts in the stock have gone up by 2,607,142 shares, which is an increase of 10.1% over the previous reading. The short interest information was released on Wednesday Aug 24th after the market close.

Precision Drilling Corporation (NYSE:PDS): The stock opened at $4.29 on Wednesday but the bulls could not build on the opening and the stock topped out at $4.39 for the day. The stock traded down to $4.26 during the day, due to lack of any buying support eventually closed down at $4.28 with a loss of -1.15% for the day. The stock had closed at $4.33 on the previous day. The total traded volume was 1,242,821 shares.


Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides contract drilling, well servicing and strategic support services to customers. It provides customers with access to a fleet of contract drilling rigs, directional drilling services, well service and snubbing rigs, coiled tubing services, camps, rental equipment, and water treatment units backed by a mix of technical support services. The Company provides the equipment, personnel and support services, which enables drill, complete and workover onshore wells for conventional and unconventional crude oil and natural gas exploration and production. The Companys service lines include Drilling Rigs (Canada), Drilling Rigs (United States), Drilling Rigs (International), Directional Drilling (Canada and United States), Rig Builds and Repair Turnkey Drilling Services, Oilfield Supplies (Canada and United States) and Oilfield Equipment Rentals, among others.

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