Galp Energia SGPS SA (OTCMKTS:GLPEY) Shares Shorted: Short Interest Up 192.4% in October

Key Points

• Short interest surged 192.4% in October to 55,419 shares, up from 18,954 shares at the end of September. Despite the increase, only about 0.0% of shares were sold short, representing 0.7 days of average trading volume.
• Galp Energia shares recently traded at $11.49, with a market capitalization of $15.61 billion and a 12-month trading range of $8.10 to $13.09.
• The company missed quarterly expectations, reporting $0.16 in EPS versus the $0.52 consensus estimate and revenue of $9.06 billion versus $9.38 billion expected. Analyst sentiment remains moderately positive, with an average rating of “Moderate Buy.”

Galp Energia SGPS SA (OTCMKTS:GLPEY - Get Free Report) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 55,419 shares, an increase of 192.4% from the September 30th total of 18,954 shares. Approximately 0.0% of the company's shares are sold short. Based on an average trading volume of 76,793 shares, the short-interest ratio is presently 0.7 days.

Galp Energia SGPS Price Performance

Shares of GLPEY stock traded down $0.05 during mid-day trading on Thursday, hitting $11.49. 32,816 shares of the stock traded hands, compared to its average volume of 88,693. Galp Energia SGPS has a twelve month low of $8.10 and a twelve month high of $13.09. The firm has a market cap of $15.61 billion and a price-to-earnings ratio of 14.19. The company's 50-day simple moving average is $12.41 and its 200-day simple moving average is $11.39. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.20 and a current ratio of 1.53.

Galp Energia SGPS (OTCMKTS:GLPEY - Get Free Report) last released its earnings results on Monday, October 26th. The energy company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.36). Galp Energia SGPS had a return on equity of 30.13% and a net margin of 5.43%. The firm had revenue of $9.06 billion for the quarter, compared to analyst estimates of $9.38 billion. As a group, equities research analysts expect that Galp Energia SGPS will post 1.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Citigroup reissued a "neutral" rating on shares of Galp Energia SGPS in a research report on Tuesday, October 13th. Morgan Stanley reissued an "overweight" rating on shares of Galp Energia SGPS in a research report on Friday, September 4th. BNP Paribas Exane lowered Galp Energia SGPS to a "hold" rating in a report on Tuesday. Zacks Research raised shares of Galp Energia SGPS from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 12th. Finally, Barclays reiterated an "overweight" rating on shares of Galp Energia SGPS in a report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

About Galp Energia SGPS

Galp Energia SGPS, SA is a Portuguese integrated energy company with activities spanning exploration and production, refining, trading, and the distribution and sale of energy products. The company supplies fuels, natural gas, electricity, lubricants, and other energy-related products to retail, commercial, and industrial customers.

Galp's upstream business focuses on the exploration, development, and production of crude oil and natural gas, with a significant presence in Brazil and interests in other international projects.

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