PT Perusahaan Gas Negara Tbk (OTCMKTS:PPAAF) Sees Significant Increase in Short Interest

PT Perusahaan Gas Negara Tbk (OTCMKTS:PPAAF) was the recipient of a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 2,935 shares, an increase of 293,400.0% from the May 14th total of 1 shares. Based on an average daily trading volume, of 1,778 shares, the days-to-cover ratio is currently 1.7 days.

PT Perusahaan Gas Negara Tbk Price Performance

Shares of PT Perusahaan Gas Negara Tbk stock opened at $0.09 on Wednesday. PT Perusahaan Gas Negara Tbk has a fifty-two week low of $0.09 and a fifty-two week high of $0.11. The business has a 50-day moving average price of $0.12 and a 200 day moving average price of $0.12.

About PT Perusahaan Gas Negara Tbk

PT Perusahaan Gas Negara Tbk (OTCMKTS: PPAAF) is Indonesia’s leading natural gas transportation and distribution company. As a state-controlled enterprise and subsidiary of PT Pertamina (Persero), PGN operates an extensive network of high-pressure transmission pipelines and low-pressure distribution systems. The company supplies natural gas to industrial, commercial and residential customers, while also providing related services such as gas metering, pipeline construction and maintenance, and the development of supporting gas infrastructure.

PGN’s core activities include the operation and expansion of gas transmission lines spanning thousands of kilometers across Java and Sumatra, as well as the management of underground gas storage facilities.