Tellurian Inc (TELL) Short Interest Up 25.1% in August

Tellurian Inc (NASDAQ:TELL) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 15,695,573 shares, an increase of 25.1% from the August 15th total of 12,547,676 shares. Based on an average daily volume of 1,972,092 shares, the days-to-cover ratio is presently 8.0 days. Approximately 17.5% of the shares of the company are sold short.

A number of equities analysts recently issued reports on TELL shares. BidaskClub lowered shares of Tellurian from a “buy” rating to a “hold” rating in a research report on Wednesday, June 20th. Zacks Investment Research raised shares of Tellurian from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Robert W. Baird started coverage on shares of Tellurian in a research report on Tuesday, August 14th. They set an “outperform” rating and a $15.00 target price on the stock. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $14.00 target price (down previously from $15.00) on shares of Tellurian in a research report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.08.

Shares of TELL stock opened at $8.53 on Friday. Tellurian has a 1 year low of $6.45 and a 1 year high of $13.74. The firm has a market cap of $2.06 billion, a P/E ratio of -10.40 and a beta of 1.56.

Tellurian (NASDAQ:TELL) last announced its earnings results on Wednesday, August 8th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.04). The company had revenue of $0.81 million for the quarter, compared to analyst estimates of $5.45 million. analysts expect that Tellurian will post -0.58 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in TELL. Laurion Capital Management LP bought a new position in Tellurian during the second quarter worth $8,326,000. Perella Weinberg Partners Capital Management LP bought a new position in Tellurian during the second quarter worth $7,774,000. Point72 Asset Management L.P. boosted its stake in Tellurian by 1,283.1% during the second quarter. Point72 Asset Management L.P. now owns 770,400 shares of the oil and gas producer’s stock worth $6,410,000 after buying an additional 714,700 shares in the last quarter. BlackRock Inc. boosted its stake in Tellurian by 13.3% during the second quarter. BlackRock Inc. now owns 5,141,398 shares of the oil and gas producer’s stock worth $42,777,000 after buying an additional 603,397 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Tellurian by 75.4% during the second quarter. Millennium Management LLC now owns 1,005,013 shares of the oil and gas producer’s stock worth $8,362,000 after buying an additional 431,875 shares in the last quarter. 17.28% of the stock is currently owned by institutional investors and hedge funds.

Tellurian Company Profile

Tellurian Inc plans to develop, own, and operate a natural gas business and to deliver natural gas to customers worldwide. The company is developing a portfolio of natural gas production, liquefied natural gas (LNG) trading, and infrastructure that includes an approximately 27.6 million tons per annum LNG export facility and an associated pipeline.

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