Gran Tierra Energy Inc (NYSEAMERICAN:GTE) saw a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 1,580,000 shares, a decline of 17.7% from the August 31st total of 1,920,000 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average daily volume of 2,290,000 shares, the short-interest ratio is presently 0.7 days.
Shares of GTE remained flat at $$0.23 during trading hours on Friday. The stock had a trading volume of 1,537,249 shares, compared to its average volume of 3,835,831. Gran Tierra Energy has a 52 week low of $0.18 and a 52 week high of $1.38.
Gran Tierra Energy (NYSEAMERICAN:GTE) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.14. The business had revenue of $33.82 million for the quarter, compared to analyst estimates of $129.50 million.
In other news, major shareholder Gmt Capital Corp sold 504,000 shares of the business’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $0.23, for a total transaction of $115,920.00. Following the sale, the insider now directly owns 82,925,479 shares of the company’s stock, valued at $19,072,860.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Several hedge funds and other institutional investors have recently bought and sold shares of GTE. Bridgeway Capital Management Inc. lifted its position in shares of Gran Tierra Energy by 89.6% during the 2nd quarter. Bridgeway Capital Management Inc. now owns 2,975,400 shares of the company’s stock worth $1,030,000 after purchasing an additional 1,406,500 shares during the last quarter. WINTON GROUP Ltd raised its holdings in Gran Tierra Energy by 102.7% in the 2nd quarter. WINTON GROUP Ltd now owns 1,638,354 shares of the company’s stock valued at $567,000 after acquiring an additional 830,274 shares in the last quarter. GSA Capital Partners LLP raised its holdings in Gran Tierra Energy by 74.7% in the 1st quarter. GSA Capital Partners LLP now owns 311,477 shares of the company’s stock valued at $78,000 after acquiring an additional 133,201 shares in the last quarter. BlackRock Inc. raised its holdings in Gran Tierra Energy by 6.7% in the 1st quarter. BlackRock Inc. now owns 1,456,880 shares of the company’s stock valued at $365,000 after acquiring an additional 91,297 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in Gran Tierra Energy by 25.0% in the 1st quarter. Two Sigma Investments LP now owns 447,141 shares of the company’s stock valued at $112,000 after acquiring an additional 89,499 shares in the last quarter.
A number of brokerages have recently weighed in on GTE. Peel Hunt upgraded Gran Tierra Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 6th. Royal Bank of Canada reiterated a “hold” rating and set a $0.60 price target on shares of Gran Tierra Energy in a report on Thursday, August 6th. Finally, Zacks Investment Research upgraded Gran Tierra Energy from a “sell” rating to a “hold” rating in a report on Tuesday, July 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Gran Tierra Energy has an average rating of “Hold” and a consensus target price of $1.26.
About Gran Tierra Energy
Gran Tierra Energy Inc, together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia and Ecuador. As of December 31, 2019, it had total proved undeveloped reserves of 31.0 million barrels of oil equivalent in Colombia. The company was founded in 2003 and is headquartered in Calgary, Canada.
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