Short Interest in Geodrill Limited (OTCMKTS:GDLLF) Drops By 78.9%

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Geodrill Limited (OTCMKTS:GDLLF) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 400 shares, a drop of 78.9% from the March 15th total of 1,900 shares. Based on an average daily trading volume, of 7,300 shares, the short-interest ratio is currently 0.1 days.

GDLLF stock traded down $0.01 during midday trading on Tuesday, hitting $1.44. 168 shares of the stock traded hands, compared to its average volume of 6,171. Geodrill has a 1-year low of $0.70 and a 1-year high of $1.61. The stock’s fifty day simple moving average is $1.48 and its 200-day simple moving average is $1.39.

A number of analysts have recently commented on GDLLF shares. TD Securities upped their target price on Geodrill from $2.75 to $3.00 and gave the stock a “buy” rating in a research note on Wednesday, March 10th. Stifel Nicolaus initiated coverage on Geodrill in a research report on Wednesday, February 10th. They issued a “buy” rating on the stock.

Geodrill Company Profile

Geodrill Limited, together with its subsidiaries, provides mineral exploration drilling services to major, intermediate, and junior mining companies with exploration, development, and production operations in West Africa and the African copper belt. It offers reverse circulation, diamond core, deep directional drilling, air-core, grade control, geo-tech, and water borehole drilling services.

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