Genel Energy plc (OTCMKTS:GEGYF) Stock Short Interest Falls 93.1%

Genel Energy plc (OTCMKTS:GEGYF) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 1,435 shares, a decline of 93.1% from the September 30th total of 20,710 shares. Based on an average trading volume of 18 shares, the days-to-cover ratio is presently 79.7 days.

Genel Energy Price Performance

Shares of GEGYF stock remained flat at $0.77 during mid-day trading on Monday. The stock has a 50-day simple moving average of $0.91 and a 200-day simple moving average of $0.79. Genel Energy has a 1 year low of $0.69 and a 1 year high of $0.99.

Genel Energy Company Profile

Genel Energy plc is an independent oil and gas company focused primarily on the exploration, development and production of hydrocarbons in the Kurdistan Region of Iraq. The company’s activities include operating and holding interests in upstream oil assets, managing field development programs and selling crude oil produced from its portfolio.

Genel has historically been associated with several significant Kurdistan assets, including interests in the Taq Taq and Tawke oil fields. The company has also pursued exploration opportunities in other regions, including Africa and Morocco, although its business has remained principally centered on its Kurdistan operations.

The company was established in 2002 as Genel Enerji and expanded internationally following its combination with Vallares in 2011.