Emerald Oil Sees Large Growth in Short Interest (EOX)
Emerald Oil (NYSE:EOX) saw a significant increase in short interest during the month of June. As of June 13th, there was short interest totalling 15,907,793 shares, an increase of 1.0% from the May 30th total of 15,753,745 shares, American Banking News reports. Approximately 29.3% of the shares of the stock are short sold. Based on an average daily volume of 1,246,180 shares, the short-interest ratio is presently 12.8 days.
A number of analysts have recently weighed in on EOX shares. Analysts at GMP Securities initiated coverage on shares of Emerald Oil in a research note on Tuesday. They set a “buy” rating and a $12.00 price target on the stock. Separately, analysts at Brean Capital initiated coverage on shares of Emerald Oil in a research note on Monday. They set a “buy” rating and a $10.00 price target on the stock. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Emerald Oil in a research note on Wednesday, May 7th. They now have a $12.00 price target on the stock, up previously from $11.00. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $10.49.
Emerald Oil (NYSE:EOX) opened at 7.05 on Wednesday. Emerald Oil has a 52-week low of $6.00 and a 52-week high of $9.20. The stock has a 50-day moving average of $6.66 and a 200-day moving average of $7.07. The company’s market cap is $467.3 million.
Emerald Oil (NYSE:EOX) last released its earnings data on Monday, May 5th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.01 by $0.03. The company had revenue of $18.27 million for the quarter, compared to the consensus estimate of $19.34 million. On average, analysts predict that Emerald Oil will post $0.16 earnings per share for the current fiscal year.
Emerald Oil, Inc (NYSE:EOX) is an independent oil and natural gas exploration and production company.
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