Genel Energy plc (OTCMKTS:GEGYF) Sees Large Growth in Short Interest

Genel Energy plc (OTCMKTS:GEGYF) was the target of a large growth in short interest in September. As of September 30th, there was short interest totaling 20,710 shares, a growth of 5,817.1% from the September 15th total of 350 shares. Based on an average daily volume of 18 shares, the days-to-cover ratio is presently 1,150.6 days.

Genel Energy Price Performance

OTCMKTS:GEGYF remained flat at $0.87 during trading hours on Friday. The stock has a fifty day moving average of $0.90 and a 200-day 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 on the exploration, development and production of hydrocarbons. The company’s activities are centered primarily in the Kurdistan Region of Iraq, where it holds interests in producing and development-stage oil assets.

Genel Energy has historically held interests in the Tawke and Taq Taq oil fields. Tawke is operated by DNO, while Taq Taq is operated through a joint venture structure. The company’s portfolio has also included exploration and appraisal opportunities in the Kurdistan Region and other frontier geographies, including Somaliland.

The company was formed in 2011 through the combination of Vallares plc and Genel Enerji, a Turkish oil company with significant assets in the Kurdistan Region.