Galp Energia SGPS SA (OTCMKTS:GLPEY) Short Interest Down 53.3% in August

Key Points

• Short interest fell 53.3% in August to 32,416 shares, representing just 0.5 days of average trading volume and 0.0% of shares outstanding.
• Analyst sentiment remains mixed: Morgan Stanley reaffirmed an “overweight” rating, while Zacks Research downgraded the stock to “hold”; the overall consensus is “Hold.”
• Galp Energia reported quarterly EPS of $0.60, exceeding estimates of $0.34, while revenue of $8.02 billion also surpassed expectations. Shares opened at $12.39, near their 52-week high of $12.87.

Galp Energia SGPS SA (OTCMKTS:GLPEY - Get Free Report) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 32,416 shares, a drop of 53.3% from the August 15th total of 69,471 shares. Based on an average daily trading volume, of 61,422 shares, the short-interest ratio is currently 0.5 days. Currently, 0.0% of the company's shares are short sold.

Analyst Ratings Changes

Several research firms have recently commented on GLPEY. Morgan Stanley reissued an "overweight" rating on shares of Galp Energia SGPS in a research note on Friday, September 4th. Zacks Research cut Galp Energia SGPS from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold".

Galp Energia SGPS Price Performance

Galp Energia SGPS stock opened at $12.39 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.20 and a current ratio of 1.53. The stock's fifty day moving average is $11.71 and its two-hundred day moving average is $11.45. Galp Energia SGPS has a fifty-two week low of $8.10 and a fifty-two week high of $12.87. The firm has a market capitalization of $16.82 billion, a price-to-earnings ratio of 14.41 and a beta of -0.05.

Galp Energia SGPS (OTCMKTS:GLPEY - Get Free Report) last announced its earnings results on Monday, July 27th. The energy company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.26. Galp Energia SGPS had a return on equity of 30.13% and a net margin of 5.43%.The firm had revenue of $8.02 billion for the quarter, compared to analysts' expectations of $6.79 billion. Analysts predict that Galp Energia SGPS will post 1.21 EPS for the current fiscal year.

Galp Energia SGPS Company Profile

Galp Energia SGPS, SA is a Portugal-based integrated energy company engaged in the exploration, production, refining, marketing and distribution of energy products. Through its upstream activities, Galp develops oil and natural gas resources, with operations and interests in areas including Brazil, Mozambique and Namibia.

The company also operates in downstream energy markets, supplying and marketing fuels, lubricants and other petroleum products. Its activities include refining, fuel distribution, retail service stations and the provision of energy solutions to business and household customers, primarily across Portugal and Spain.

Galp is expanding beyond traditional hydrocarbons through investments in renewable power generation, solar energy, electric-vehicle charging, low-carbon fuels and other energy-transition technologies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.