Harbour Energy PLC Sponsored ADR (OTCMKTS:HBRIY) Sees Large Drop in Short Interest

Key Points

• Harbour Energy PLC experienced a 34.9% decline in short interest in August, with only 17,700 shares short sold by the end of the month.
• The company has announced a dividend payment of $0.1119 for shareholders, resulting in a high yield of 623.0%.
• Wall Street analysts maintain a "Moderate Buy" rating for Harbour Energy, with one analyst suggesting a buy and another a hold on the stock.

Harbour Energy PLC Sponsored ADR (OTCMKTS:HBRIY - Get Free Report) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 17,700 shares, a decline of 34.9% from the August 15th total of 27,200 shares. Currently, 0.0% of the company's shares are short sold. Based on an average daily volume of 35,800 shares, the short-interest ratio is presently 0.5 days. Based on an average daily volume of 35,800 shares, the short-interest ratio is presently 0.5 days. Currently, 0.0% of the company's shares are short sold.

Harbour Energy Trading Down 4.8%

Shares of HBRIY stock opened at $3.04 on Monday. The firm has a 50 day moving average of $3.01 and a 200-day moving average of $2.68. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 0.68. Harbour Energy has a 52 week low of $2.08 and a 52 week high of $3.83.

Harbour Energy Cuts Dividend

The business also recently declared a dividend, which will be paid on Monday, October 6th. Shareholders of record on Tuesday, August 19th will be paid a $0.1119 dividend. This represents a yield of 623.0%. The ex-dividend date of this dividend is Monday, August 18th.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley reaffirmed an "overweight" rating on shares of Harbour Energy in a research note on Tuesday, June 17th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy".

About Harbour Energy

Harbour Energy plc, together with its subsidiaries, engages in the acquisition, exploration, development, and production of oil and gas reserves. The company holds interests in various properties located in the United Kingdom, Norwegian Continental Shelves, Indonesia, Vietnam, and Mexico. It is also involved in the decommissioning, financing, gas trading, and risk mitigation activities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.