Alvopetro Energy Ltd. (OTCMKTS:ALVOF) Stock Short Interest Report for October

Key Points

• Short interest surged 615.8% in October to 80,115 shares, equal to 0.2% of shares outstanding and about 1.2 days of average trading volume.
• Alvopetro shares opened at $6.79, within a 12-month range of $4.22 to $8.22. The company reported quarterly EPS of $0.26, beating estimates by $0.04, with $19.18 million in revenue.
• Analyst sentiment weakened after Zacks downgraded the stock from “strong buy” to “hold”; the stock now has an average “Hold” rating from one analyst.

Alvopetro Energy Ltd. (OTCMKTS:ALVOF - Get Free Report) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 80,115 shares, a growth of 615.8% from the September 30th total of 11,192 shares. Based on an average daily volume of 68,146 shares, the short-interest ratio is currently 1.2 days. Currently, 0.2% of the shares of the stock are short sold.

Alvopetro Energy Stock Performance

Shares of ALVOF stock opened at $6.79 on Tuesday. The business's 50-day moving average price is $7.16 and its 200-day moving average price is $6.42. Alvopetro Energy has a 12 month low of $4.22 and a 12 month high of $8.22. The firm has a market capitalization of $253.67 million, a price-to-earnings ratio of 9.18 and a beta of 0.01. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.12.

Alvopetro Energy (OTCMKTS:ALVOF - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.04. Alvopetro Energy had a net margin of 42.13% and a return on equity of 27.90%. The company had revenue of $19.18 million for the quarter, compared to analyst estimates of $18.54 million. Equities research analysts forecast that Alvopetro Energy will post 0.88 EPS for the current year.

Analysts Set New Price Targets

Separately, Zacks Research cut shares of Alvopetro Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 6th. One research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company currently has an average rating of "Hold".

About Alvopetro Energy

Alvopetro Energy Ltd. is a Canadian oil and natural gas company focused on the exploration, development and production of petroleum resources in Brazil. The company's operations are concentrated in the Reconcavo Basin in the state of Bahia, a mature oil and gas region with established infrastructure and local demand.

Alvopetro's Brazilian asset portfolio includes interests in the Cabure and Murucututu fields, where it produces natural gas, condensate and oil. The company also owns and operates related midstream infrastructure, including a natural gas processing facility and pipeline assets that connect its production to regional markets.

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