Gran Tierra Energy Inc (NYSEAMERICAN:GTE) Short Interest Update

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Gran Tierra Energy Inc (NYSEAMERICAN:GTE) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 7,150,000 shares, a drop of 5.8% from the January 15th total of 7,590,000 shares. Based on an average trading volume of 1,820,000 shares, the days-to-cover ratio is presently 3.9 days. Currently, 2.0% of the company’s shares are short sold.

In other news, Director Brooke N. Wade bought 122,200 shares of Gran Tierra Energy stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average price of $1.23 per share, for a total transaction of $150,306.00. Also, major shareholder Gmt Capital Corp bought 143,100 shares of Gran Tierra Energy stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average price of $1.01 per share, for a total transaction of $144,531.00. Following the acquisition, the insider now directly owns 80,117,586 shares of the company’s stock, valued at approximately $80,918,761.86. The disclosure for this purchase can be found here. Insiders purchased 1,653,900 shares of company stock worth $1,798,293 in the last quarter.

Institutional investors and hedge funds have recently modified their holdings of the business. Cornerstone Investment Partners LLC lifted its stake in shares of Gran Tierra Energy by 91.2% during the third quarter. Cornerstone Investment Partners LLC now owns 24,855 shares of the company’s stock worth $31,000 after purchasing an additional 11,855 shares in the last quarter. Morgan Stanley lifted its stake in shares of Gran Tierra Energy by 7.0% during the second quarter. Morgan Stanley now owns 2,719,552 shares of the company’s stock worth $4,325,000 after purchasing an additional 176,976 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Gran Tierra Energy by 7.1% during the second quarter. BlackRock Inc. now owns 1,164,641 shares of the company’s stock worth $1,852,000 after purchasing an additional 77,387 shares in the last quarter. State Street Corp lifted its stake in shares of Gran Tierra Energy by 5.6% during the third quarter. State Street Corp now owns 985,463 shares of the company’s stock worth $1,232,000 after purchasing an additional 52,665 shares in the last quarter. Finally, K.J. Harrison & Partners Inc lifted its stake in shares of Gran Tierra Energy by 74.1% during the fourth quarter. K.J. Harrison & Partners Inc now owns 70,000 shares of the company’s stock worth $90,000 after purchasing an additional 29,800 shares in the last quarter.

A number of brokerages recently weighed in on GTE. CIBC reiterated a “hold” rating and issued a $2.50 target price on shares of Gran Tierra Energy in a report on Tuesday, December 10th. Citigroup reduced their target price on Gran Tierra Energy from $2.50 to $2.20 and set a “buy” rating on the stock in a report on Thursday, November 21st. Zacks Investment Research cut Gran Tierra Energy from a “hold” rating to a “strong sell” rating in a report on Thursday, January 23rd. TheStreet cut Gran Tierra Energy from a “c” rating to a “d” rating in a report on Wednesday, November 6th. Finally, Scotiabank cut Gran Tierra Energy from an “outperform” rating to a “sector perform” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Gran Tierra Energy presently has an average rating of “Hold” and a consensus target price of $3.09.

Shares of GTE opened at $0.92 on Friday. Gran Tierra Energy has a 12 month low of $0.86 and a 12 month high of $2.64.

Gran Tierra Energy Company Profile

Gran Tierra Energy Inc, together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia. As of December 31, 2018, the company had total proved undeveloped reserves of 17.3 million barrels of oil equivalent. Gran Tierra Energy Inc was incorporated in 2003 and is headquartered in Calgary, Canada.

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