Short Interest in Harbour Energy PLC Sponsored ADR (OTCMKTS:HBRIY) Declines By 95.5%

Key Points

• Short interest plunged 95.5%, falling to 16,040 shares as of March 31 (about 0.0% of shares sold short) with a days-to-cover ratio of 0.2 based on average daily volume of 82,333 shares.
• Goldman Sachs downgraded Harbour Energy from "hold" to "strong sell" on Feb 4, while the consensus rating remains "Hold" with one Buy and one Sell analyst.
• The ADR traded at $4.02 on Friday with volume of 257,252 (well above its average of 47,607), a 1‑year range of $2.08–$4.48, and 50/200-day moving averages of $3.64 and $3.15 respectively.

Harbour Energy PLC Sponsored ADR (OTCMKTS:HBRIY - Get Free Report) was the recipient of a large decrease in short interest during the month of March. As of March 31st, there was short interest totaling 16,040 shares, a decrease of 95.5% from the March 15th total of 359,394 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 82,333 shares, the days-to-cover ratio is presently 0.2 days.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lowered shares of Harbour Energy from a "hold" rating to a "strong sell" rating in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold".

Harbour Energy Price Performance

Shares of OTCMKTS:HBRIY traded down $0.07 during trading on Friday, hitting $4.02. 257,252 shares of the stock were exchanged, compared to its average volume of 47,607. Harbour Energy has a 1-year low of $2.08 and a 1-year high of $4.48. The company's fifty day simple moving average is $3.64 and its 200-day simple moving average is $3.15.

About Harbour Energy

Harbour Energy PLC OTCMKTS: HBRIY is a London-based independent oil and gas exploration and production company formed in July 2021 through the merger of Premier Oil and Chrysaor. As the largest UK-listed E&P group by production, the company focuses on developing and operating a diversified portfolio of upstream assets to deliver long-term value through stable cash flow and disciplined capital allocation.

The company’s core business activities encompass the exploration, development and production of crude oil and natural gas.

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