Short Interest in Gran Tierra Energy Inc. (NYSEAMERICAN:GTE) Decreases By 9.1%

Gran Tierra Energy Inc. (NYSEAMERICAN:GTE) saw a significant decline in short interest in March. As of March 31st, there was short interest totalling 637,000 shares, a decline of 9.1% from the March 15th total of 700,400 shares. Based on an average trading volume of 422,500 shares, the short-interest ratio is currently 1.5 days. Approximately 2.0% of the shares of the stock are short sold.

Analyst Ratings Changes

Several brokerages recently commented on GTE. Royal Bank of Canada boosted their price objective on shares of Gran Tierra Energy from $9.00 to $10.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 13th. StockNews.com raised shares of Gran Tierra Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Finally, TheStreet cut shares of Gran Tierra Energy from a “c-” rating to a “d” rating in a research note on Wednesday, March 6th.

Gran Tierra Energy Trading Up 0.4 %

GTE stock traded up $0.03 during midday trading on Wednesday, reaching $8.03. The company had a trading volume of 100,751 shares, compared to its average volume of 410,879. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.43 and a quick ratio of 0.32. Gran Tierra Energy has a 1 year low of $4.62 and a 1 year high of $9.39.

Gran Tierra Energy (NYSEAMERICAN:GTE) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.33. Gran Tierra Energy had a negative net margin of 0.99% and a negative return on equity of 1.60%. The business had revenue of $154.94 million during the quarter.

Hedge Funds Weigh In On Gran Tierra Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its holdings in shares of Gran Tierra Energy by 19.1% in the 1st quarter. Royal Bank of Canada now owns 12,270,521 shares of the company’s stock worth $19,265,000 after acquiring an additional 1,970,245 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Gran Tierra Energy by 39.2% in the 2nd quarter. Renaissance Technologies LLC now owns 7,010,354 shares of the company’s stock worth $8,062,000 after acquiring an additional 1,973,154 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Gran Tierra Energy by 40.4% in the 1st quarter. AQR Capital Management LLC now owns 6,489,539 shares of the company’s stock worth $5,705,000 after acquiring an additional 1,868,093 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Gran Tierra Energy in the 1st quarter worth approximately $7,986,000. Finally, Marshall Wace LLP lifted its holdings in shares of Gran Tierra Energy by 7.8% in the 4th quarter. Marshall Wace LLP now owns 4,044,813 shares of the company’s stock worth $4,004,000 after acquiring an additional 294,320 shares during the last quarter. Hedge funds and other institutional investors own 31.70% of the company’s stock.

Gran Tierra Energy Company Profile

Gran Tierra Energy Inc, together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia and Ecuador. The company was founded in 2003 and is headquartered in Calgary, Canada.