Patterson-UTI Energy Inc. (NASDAQ:PTEN) Short Squeeze

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Over the past twenty days of trading, Patterson-UTI Energy Inc. (NASDAQ: PTEN), from March 26, 2020 to April 23, 2020 there is a potential Short Squeeze about to happen because of an increase in short volume over the past twenty days with very little cover volume.

Because of this the Squeeze Report trend indicator issued a PTEN Short Squeeze.


Patterson-UTI Energy Inc. (NASDAQ: PTEN) Short Squeeze Analysis

During the last five days of trading, from April 17, 2020 to April 23, 2020 PTEN had a staggering 7,073,044 shares shorted while trading a total of 38,132,392 shares as show the on PTEN short page.

The last ten days of trading, from April 09, 2020 to April 23, 2020 PTEN had a staggering 12,427,196 shares shorted while trading a total of 64,244,070 shares as show the on PTEN short page.

Over the last twenty days of trading, from March 26, 2020 to April 23, 2020 PTEN had a staggering 23,945,429 shares shorted while trading a total of 136,102,711 shares as show the on PTEN short page.

According to our proprietary algorithm during the last five trading days there were 3 short days, 2 days with no change but 0 cover days. Over the last ten trading days there were 6 short days, 4 days with no change but 0 cover days. The last twenty trading days there were 12 short day, 7 days with no change but 1 cover days.


Patterson-UTI Energy Inc. (NASDAQ: PTEN) Short Squeeze Result

The short indicator utilizes several factors before determining a result and because of these indications we have placed a short trend indicator of PTEN Short Squeeze.


Patterson-UTI Energy Inc. (NASDAQ: PTEN) Short Squeeze Data

Twenty Day trading Totals

Total Shorted Volume23,945,429
Total Actual Volume136,102,711
Total Volume Discrepancy86,886,255

Short Trends

Cover Days1
Short Days12
No Change Days7

Averages

Average Volume Discrepancy4,344,312
Average Short Volume1,197,271
Average Short Percentage50%

The Short Trend Indicator

Squeeze Reports short trend indicator utilizes several different trading factors including, short data, trade data, short analysis and short probability. So become a member of Squeeze Report if you want to to gain access or know more about the short trend indicator and other short trading tools.


Disclaimer

This article is for the purposes of solicitation subscriptions for Squeeze Report. The company Squeeze Report expects to generate new advertisement revenue resulting from the distribution of this article. The amount of which is unknown at this time. Squeeze Report or it’s authors do not own any shares of Patterson-UTI Energy Inc. (NASDAQ: PTEN) and doed not buy, sell, or trade any shares of PTEN. This article does not provide a professional analysis of a (PTEN) financial position. (PTEN) financial position and all other information regarding the featured Company should be verified directly with (PTEN). Please read our full disclaimer for more detailed information.