Turbogen Ltd. (NASDAQ:TRBG) Shares Shorted: Short Interest Up 72.3% in October

Turbogen Ltd. (NASDAQ:TRBG) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 50,763 shares, an increase of 72.3% from the September 30th total of 29,459 shares. Based on an average daily trading volume, of 64,921 shares, the days-to-cover ratio is presently 0.8 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings assumed coverage on Turbogen in a research note on Friday, September 25th. They issued a “sell (d-)” rating on the stock. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock currently has an average rating of “Sell”.

Turbogen Stock Performance

Turbogen stock opened at $3.50 on Wednesday. Turbogen has a 12 month low of $3.07 and a 12 month high of $33.99. The company has a 50 day moving average price of $3.99.

About Turbogen

Turbogen is an energy technology company that develops distributed power-generation systems based on microturbine technology. Its systems are designed to generate electricity close to the point of consumption and may support combined heat and power applications.

The company’s technology is intended for commercial, industrial, and other energy users seeking onsite generation, energy efficiency, and reduced reliance on centralized power networks. Turbogen’s systems can be configured to use available fuels, including natural gas and other gaseous fuel sources, depending on the application.

Turbogen is based in Israel and focuses on developing and commercializing its microturbine-based energy solutions.