Today's Dead Cat Bounce Stock: Precision Drilling (PDS)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.

Trade-Ideas LLC identified Precision Drilling ( PDS) as a "dead cat bounce" (down big yesterday but up big today) candidate. In addition to specific proprietary factors, Trade-Ideas identified Precision Drilling as such a stock due to the following factors:

  • PDS has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $28.4 million.
  • PDS has traded 1.4 million shares today.
  • PDS is up 3.2% today.
  • PDS was down 6.1% yesterday.

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More details on PDS:

Precision Drilling Corporation provides oil and natural gas drilling and related services and products. The company operates through two segments, Contract Drilling Services; and Completion and Production Services. The stock currently has a dividend yield of 2.6%. Currently there are 5 analysts that rate Precision Drilling a buy, 1 analyst rates it a sell, and 3 rate it a hold.

The average volume for Precision Drilling has been 3.9 million shares per day over the past 30 days. Precision has a market cap of $2.1 billion and is part of the basic materials sector and energy industry. Shares are up 19.8% year-to-date as of the close of trading on Thursday.

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