Gear Energy Ltd. (OTCMKTS:GENGF) Sees Significant Drop in Short Interest

Gear Energy Ltd. (OTCMKTS:GENGF) was the recipient of a large decrease in short interest in the month of May. As of May 28th, there was short interest totalling 7,700 shares, a decrease of 87.2% from the May 13th total of 60,200 shares. Based on an average trading volume of 148,700 shares, the days-to-cover ratio is currently 0.1 days.

OTCMKTS GENGF traded up $0.02 on Friday, reaching $0.66. The stock had a trading volume of 199,611 shares, compared to its average volume of 281,312. The stock’s fifty day moving average is $0.51. Gear Energy has a 1-year low of $0.11 and a 1-year high of $0.70.

Separately, Stifel Nicolaus cut Gear Energy from a “buy” rating to a “hold” rating in a report on Friday, May 7th.

Gear Energy Company Profile

Gear Energy Ltd., an exploration and production company, acquires, develops, and holds interests in petroleum and natural gas properties and assets in Canada. Its oil-focused operations are located in three core areas, including Lloydminster heavy oil, Central Alberta light/medium oil, and Southeast Saskatchewan light oil.

Read More: What does a hold rating mean?

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