InterOil (IOC) Short Squeeze Watch Now in Effect
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Price: $90.13 +0.97%
Rating Summary:
6 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
6 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade IOC Now!
InterOil (NYSE: IOC) made a significant announcement today regarding its Gulf LNG Project. Specifically, the company advised bidders that the final binding bid solicitation period for the partnering process will close in five weeks, on February 28, 2013.
"If the decision is straightforward – one bid is clearly superior to all others – then an announcement can be made very quickly," said analyst Pavel Molchanov of Raymond James. "If the decision is more complicated, then the board's deliberations would presumably take longer."
Molchanov thinks that the self-impose deadline is encouraging, because it signifies that management is comfortable with what's already on the table.
"There obviously remains plenty of market skepticism that the company will deliver a deal. Given this skepticism, short interest has ramped up, and we think the stock is setting up for a short squeeze once the partnership announcement comes out," stated Molchanov.
Raymond James has an Outperform rating on InterOil.
For an analyst ratings summary and ratings history on InterOil (NYSE: IOC) click here. For more ratings news on InterOil click here.
Shares of InterOil closed at $55.74 yesterday, with a 52 week range of $47.02-$99.05.
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"If the decision is straightforward – one bid is clearly superior to all others – then an announcement can be made very quickly," said analyst Pavel Molchanov of Raymond James. "If the decision is more complicated, then the board's deliberations would presumably take longer."
Molchanov thinks that the self-impose deadline is encouraging, because it signifies that management is comfortable with what's already on the table.
"There obviously remains plenty of market skepticism that the company will deliver a deal. Given this skepticism, short interest has ramped up, and we think the stock is setting up for a short squeeze once the partnership announcement comes out," stated Molchanov.
Raymond James has an Outperform rating on InterOil.
For an analyst ratings summary and ratings history on InterOil (NYSE: IOC) click here. For more ratings news on InterOil click here.
Shares of InterOil closed at $55.74 yesterday, with a 52 week range of $47.02-$99.05.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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