Vine Energy Inc. (NYSE:VEI) Short Interest Update

Vine Energy Inc. (NYSE:VEI) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,220,000 shares, an increase of 43.4% from the August 15th total of 850,900 shares. Approximately 5.8% of the company’s stock are sold short. Based on an average daily trading volume, of 447,100 shares, the days-to-cover ratio is currently 2.7 days.

A number of large investors have recently modified their holdings of VEI. Blackstone Group Inc. acquired a new position in Vine Energy in the 1st quarter worth approximately $720,640,000. Encompass Capital Advisors LLC acquired a new stake in shares of Vine Energy during the 1st quarter worth approximately $20,610,000. Zimmer Partners LP acquired a new stake in shares of Vine Energy during the 1st quarter worth approximately $20,610,000. BlackRock Inc. acquired a new stake in shares of Vine Energy during the 2nd quarter worth approximately $20,807,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Vine Energy during the 1st quarter worth approximately $17,769,000.

Several research firms have recently issued reports on VEI. Zacks Investment Research downgraded shares of Vine Energy from a “buy” rating to a “hold” rating in a report on Wednesday, August 11th. Morgan Stanley downgraded shares of Vine Energy from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $18.00 to $14.00 in a report on Monday, August 23rd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Vine Energy presently has a consensus rating of “Buy” and an average target price of $17.00.

NYSE:VEI traded down $0.25 during midday trading on Monday, hitting $15.89. The company’s stock had a trading volume of 249,312 shares, compared to its average volume of 428,677. Vine Energy has a fifty-two week low of $10.85 and a fifty-two week high of $17.36. The company’s 50 day simple moving average is $14.78. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.25.

Vine Energy (NYSE:VEI) last issued its quarterly earnings results on Friday, August 13th. The company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.28. The business had revenue of $97.66 million during the quarter. Equities research analysts predict that Vine Energy will post 0.5 earnings per share for the current fiscal year.

About Vine Energy

Vine Energy Inc, an energy company, focuses on the development of natural gas properties in the stacked Haynesville and Mid-Bossier shale plays in the Haynesville Basin of Northwest Louisiana. The company was founded in 2014 and is based in Plano, Texas.

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