Gran Tierra Energy Short Interest Up 60.1% in July (GTE)
Gran Tierra Energy (NYSE:GTE) was the recipient of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 715,390 shares, a growth of 60.1% from the June 30th total of 446,978 shares, ARN reports. Currently, 0.3% of the company’s shares are short sold. Based on an average daily trading volume, of 1,175,825 shares, the days-to-cover ratio is currently 0.6 days.
A number of analysts have recently weighed in on GTE shares. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Gran Tierra Energy in a research note on Thursday. They now have a $12.00 price target on the stock, up previously from $11.00. Analysts at Goldman Sachs initiated coverage on shares of Gran Tierra Energy in a research note on Friday, May 2nd. They set a “neutral” rating and a $9.50 price target on the stock. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $10.25.
Shares of Gran Tierra Energy (NYSE:GTE) traded down 0.55% on Thursday, hitting $7.19. 1,785,633 shares of the company’s stock traded hands. Gran Tierra Energy has a 52 week low of $5.95 and a 52 week high of $8.18. The stock has a 50-day moving average of $7.52 and a 200-day moving average of $7.33. The company has a market cap of $2.038 billion and a P/E ratio of 18.03.
Gran Tierra Energy (NYSE:GTE) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.16 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.14 by $0.02. The company had revenue of $169.70 million for the quarter, compared to the consensus estimate of $176.27 million. On average, analysts predict that Gran Tierra Energy will post $0.63 earnings per share for the current fiscal year.
Gran Tierra Energy Inc (NYSE:GTE) is an independent international energy company engaged in oil and gas acquisition, exploration, development and production.
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