Glori Energy Price Target Lowered to $10.00 at Maxim Group (GLRI)
Equities researchers at Maxim Group reduced their price target on shares of Glori Energy (NASDAQ:GLRI) from $11.00 to $10.00 in a research report issued on Wednesday. The firm currently has a “buy” rating on the stock. Maxim Group’s target price points to a potential upside of 25.94% from the company’s current price.
Glori Energy (NASDAQ:GLRI) traded down 0.76% on Wednesday, hitting $7.88. The stock had a trading volume of 570 shares. Glori Energy has a 52-week low of $7.51 and a 52-week high of $12.44. The stock’s 50-day moving average is $9.11 and its 200-day moving average is $8.64. The company’s market cap is $26.0 million. Glori Energy also was the target of a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 778,465 shares, a decline of 20.3% from the July 15th total of 977,221 shares. Currently, 5.9% of the shares of the company are short sold. Based on an average daily volume of 52,475 shares, the short-interest ratio is currently 14.8 days.
Glori Energy (NASDAQ:GLRI) last announced its earnings results on Tuesday, August 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by $0.03. The company had revenue of $5.56 million for the quarter, compared to the consensus estimate of $935.00 million.
A number of other firms have also recently commented on GLRI. Analysts at FBR Capital Markets initiated coverage on shares of Glori Energy in a research note on Wednesday, July 16th. They set an “outperform” rating and a $13.00 price target on the stock. Analysts at Robert W. Baird reiterated an “outperform” rating on shares of Glori Energy in a research note on Friday, May 16th. They now have a $12.00 price target on the stock.
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