Short Interest in U.S. Energy Corp. (NASDAQ:USEG) Decreases By 24.2%

U.S. Energy Corp. (NASDAQ:USEG) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 372,400 shares, a drop of 24.2% from the March 15th total of 491,300 shares. Based on an average daily volume of 3,840,000 shares, the short-interest ratio is presently 0.1 days. Approximately 3.6% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on USEG. StockNews.com downgraded U.S. Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, April 9th. D. Boral Capital reaffirmed a “buy” rating and issued a $3.50 price target on shares of U.S. Energy in a report on Thursday, March 13th.

U.S. Energy Price Performance

Shares of U.S. Energy stock opened at $1.15 on Monday. The company has a 50 day simple moving average of $1.43 and a two-hundred day simple moving average of $1.65. The firm has a market cap of $38.89 million, a PE ratio of -0.87 and a beta of 0.66. U.S. Energy has a 1 year low of $0.81 and a 1 year high of $6.40.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Scissortail Wealth Management LLC purchased a new position in shares of U.S. Energy in the 4th quarter worth about $73,000. Renaissance Technologies LLC lifted its position in U.S. Energy by 24.6% in the 4th quarter. Renaissance Technologies LLC now owns 62,900 shares of the energy company’s stock worth $103,000 after buying an additional 12,400 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in U.S. Energy by 27.1% in the fourth quarter. Geode Capital Management LLC now owns 111,528 shares of the energy company’s stock worth $182,000 after buying an additional 23,756 shares in the last quarter. 3.00% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Energy Company Profile

U.S. Energy Corp., an independent energy company, focuses on the acquisition, exploration, and development of oil and natural gas properties in the United States. It holds interests in various oil and gas properties located in the Rockies region, including Montana, Wyoming, and North Dakota; the Mid-Continent region comprising Oklahoma, Kansas, and North and East Texas; West Texas; South Texas; and the Gulf Coast regions.