21:05:53 EDT Thu 18 Apr 2024
Enter Symbol
or Name
USA
CA



Badger Daylighting Ltd
Symbol BAD
Shares Issued 37,100,681
Close 2017-05-25 C$ 23.02
Market Cap C$ 854,057,677
Recent Sedar Documents

Post says Badger suffers short seller's attention

2017-05-25 09:34 ET - In the News

The Financial Post reports in its Thursday edition that a Calgary-based oil field services company is trying to soothe investor fears after its shares lost a quarter of their value amid sharp criticism from the same short seller who targeted Home Capital Group. The Post's Geoffrey Morgan writes that following Badger's first-quarter results ealier this month, former hedge-fund manager and active short seller Marc Cohodes revealed his Badger short position. Mr. Cohodes, who told the Post he has been following Badger for more than a year, has been critical of the company's first-quarter results and slammed its decision to build new hydrovac trucks while parts of its fleet sit idle. Badger's shares fell more than 25 per cent from $30.56, but rebounded slightly Wednesday to close at $23.09. The slide has resulted in the Badger's market cap falling from more than $1-billion to about $850-million and data from IHS Markit show that the company, which has a fleet of more than 1,000 hydrovac trucks, is again among the most shorted stocks with 18.2 per cent of its shares out on loan to short sellers at the end of the first quarter. However, Cormark analyst Gavin Fairweather maintains a $34 price target and a buy rating.

© 2024 Canjex Publishing Ltd. All rights reserved.