Gear Energy Ltd. (OTCMKTS:GENGF) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 54,800 shares, an increase of 110.0% from the August 15th total of 26,100 shares. Based on an average daily volume of 547,200 shares, the days-to-cover ratio is presently 0.1 days.
Separately, Stifel Nicolaus upgraded Gear Energy from a “hold” rating to a “buy” rating and set a $1.00 target price for the company in a research report on Friday, July 30th.
GENGF opened at $0.57 on Friday. The stock has a 50-day moving average price of $0.54 and a 200-day moving average price of $0.53. Gear Energy has a 12-month low of $0.11 and a 12-month high of $0.81.
Gear Energy Ltd. is an exploration and production company, which engages in the acquisition, exploration, and production of oil and gas properties. Its properties are located in Alberta, British Columbia, and Saskatchewan. The company was founded on June 25, 2007 and is headquartered in Calgary, Canada.
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