Short Interest in Gran Tierra Energy Inc. (NYSE:GTE) Declines By 25.2%

Key Points

• Short interest in Gran Tierra Energy Inc. saw a significant decline of 25.2% in August, dropping from 1,060,000 shares to 792,800 shares, representing about 2.5% of the company's stock.
• Gran Tierra Energy reported a net loss of ($0.36) EPS in its last quarterly earnings, surpassing analysts' expectations by $0.07.
• The stock currently has a market capitalization of $140.11 million and an average rating of "Moderate Buy" from analysts, with one rating it as a Buy and another as a Hold.

Gran Tierra Energy Inc. (NYSE:GTE - Get Free Report) was the target of a large decline in short interest in August. As of August 31st, there was short interest totaling 792,800 shares, a decline of 25.2% from the August 15th total of 1,060,000 shares. Approximately 2.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 332,800 shares, the days-to-cover ratio is presently 2.4 days. Based on an average daily trading volume, of 332,800 shares, the days-to-cover ratio is presently 2.4 days. Approximately 2.5% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, Raymond James Financial assumed coverage on Gran Tierra Energy in a research note on Friday, June 20th. They issued a "market perform" rating on the stock. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Gran Tierra Energy presently has a consensus rating of "Moderate Buy".

Gran Tierra Energy Stock Performance

Shares of NYSE:GTE traded down $0.21 during trading hours on Friday, hitting $3.89. The stock had a trading volume of 541,142 shares, compared to its average volume of 287,915. The stock's fifty day simple moving average is $4.12 and its 200 day simple moving average is $4.54. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.19 and a current ratio of 1.31. The firm has a market capitalization of $137.28 million, a price-to-earnings ratio of 2.72 and a beta of 0.86. Gran Tierra Energy has a 1-year low of $3.34 and a 1-year high of $8.19.

Gran Tierra Energy (NYSE:GTE - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.43) by $0.07. Gran Tierra Energy had a net margin of 7.17% and a return on equity of 11.36%. During the same period last year, the firm posted $1.16 EPS.

Institutional Investors Weigh In On Gran Tierra Energy

A number of hedge funds have recently made changes to their positions in GTE. Equinox Partners Investment Management LLC lifted its position in shares of Gran Tierra Energy by 37.2% in the 2nd quarter. Equinox Partners Investment Management LLC now owns 5,097,688 shares of the company's stock worth $24,316,000 after purchasing an additional 1,381,574 shares during the period. Encompass Capital Advisors LLC grew its position in Gran Tierra Energy by 33.4% during the first quarter. Encompass Capital Advisors LLC now owns 2,500,589 shares of the company's stock valued at $12,328,000 after buying an additional 625,562 shares during the period. LM Asset IM Inc. lifted its holdings in Gran Tierra Energy by 13.4% during the second quarter. LM Asset IM Inc. now owns 1,945,800 shares of the company's stock valued at $9,281,000 after purchasing an additional 229,200 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Gran Tierra Energy by 8.2% in the second quarter. American Century Companies Inc. now owns 1,409,583 shares of the company's stock worth $6,724,000 after buying an additional 106,478 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its position in shares of Gran Tierra Energy by 1.1% in the first quarter. Bridgeway Capital Management LLC now owns 558,374 shares of the company's stock worth $2,753,000 after purchasing an additional 6,219 shares during the last quarter. 31.70% of the stock is currently owned by institutional investors and hedge funds.

Gran Tierra Energy Company Profile

Gran Tierra Energy Inc, together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia and Ecuador. The company was founded in 2003 and is headquartered in Calgary, Canada.