Headwater Exploration Inc. (OTCMKTS:CDDRF) Short Interest Up 23.3% in October

Headwater Exploration Inc. (OTCMKTS:CDDRF) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 2,478,700 shares, an increase of 23.3% from the October 15th total of 2,011,100 shares. Based on an average daily volume of 83,500 shares, the days-to-cover ratio is presently 29.7 days.

Headwater Exploration Stock Up 1.6 %

OTCMKTS CDDRF traded up $0.08 during trading hours on Friday, reaching $4.90. 136,023 shares of the company’s stock were exchanged, compared to its average volume of 20,695. The firm has a fifty day moving average of $4.84 and a 200-day moving average of $5.09. Headwater Exploration has a one year low of $4.30 and a one year high of $6.26.

Headwater Exploration Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.0724 per share. This represents a dividend yield of 5.96%. The ex-dividend date was Friday, September 27th.

Analyst Upgrades and Downgrades

Separately, Raymond James assumed coverage on shares of Headwater Exploration in a report on Friday, October 18th. They set a “market perform” rating and a $8.50 price target for the company.

About Headwater Exploration

Headwater Exploration Inc engages in the exploration, development, and production of petroleum and natural gas in Canada. It holds interest in the Marten Hills area located in Alberta, and McCully Field area located in New Brunswick. The company was formerly known as Corridor Resources Inc and changed its name to Headwater Exploration Inc in March 2020.