Recent insider trends for Civeo Corporation (NYSE:CVEO) have caught the attention of investors. Analysts study insider data to get a sense of sense of what key shareholders think about the outlook for a particular stock. In the case of CVEO, the data has some interesting implications for where the stock might be headed.
Institutions own 76.07% of Civeo Corporation (CVEO)’s shares. The total value of these holdings, in millions, is $230. Among active positions in the latest quarter, 36 holders increased their positions by a total of 13.08 million shares, 55 holders decreased the positions by a total of 10.14 million shares, and 27 holders held their positions. This works out to a net increase in ownership of 2.94 million shares, and suggests that institutions are feeling bullish about the stock.
Among new and sold out positions, 9 holders initiated new positions by a total of 318073 shares and 20 holders exited their positions by a total of 1.59 million shares. This nets out to a decrease of 1.27 million shares and is another bearish sign for CVEO.
In the last three months, insiders executed a total of 1 trades. 1 of these were buys. Insider ownership increased by a total of 3290 shares, which suggests that CVEO’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: insiders executed 13 buys and 15 sells, and ownership increased by a net of 7453 shares.
Short interest is another tool that analysts use to gauge investor sentiment. It represents the number of a stock’s shares that are being shorted by investors. Civeo Corporation (NYSE:CVEO)’s short interest is 1.21 million shares, or % of the float. This represents an increase of 12% in the number of shares being shorted compared to the previous reading, and implies that investors felt more pessimistic about the stock during the past two weeks.
In light of the insider ownership and trading data it makes sense to consider technicals to see if they come to a similar conclusion about the outlook for CVEO. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that CVEO is a Weak sell, which implies that CVEO is expected to underperform the market based on prior trading patterns.
Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that Civeo Corporation (NYSE:CVEO) is overvalued.