Shares of hydraulic fracker FTS International Inc. (FTSI) - Get Report fell as much as 15% on Wednesday, Dec. 19, after analysts at Credit Suisse downgraded the stock to "neutral" from "outperform" and lowered their one-year price target to $8 from $15.
As of mid-afternoon, FTS International stock was down 14.7% at $7.02 on the Nasdaq Stock Exchange, making it one of the worst performers of the day.
Since its initial public offering in February 2018, FTS International's stock price has dropped 63%. In contrast, the VanEck Vectors Oil Services ETF (OIH) - Get Report has dropped a little less than 40% over the same time frame.
Oilfield equipment & services , or OFS companies, have seen their stocks under pressure this year amid rising U.S. oil supplies and declining prices.
FTS International provides hydraulic fracturing services in North America.