Pelangio Exploration Inc. (OTCMKTS:PGXPF) Stock Short Interest Jumps 95.3%

Pelangio Exploration Inc. (OTCMKTS:PGXPF) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 148,171 shares, an increase of 95.3% from the September 15th total of 75,851 shares. Based on an average daily trading volume, of 62,231 shares, the short-interest ratio is presently 2.4 days. Currently, 0.1% of the company’s shares are sold short.

Pelangio Exploration Price Performance

PGXPF opened at $0.09 on Thursday. Pelangio Exploration has a fifty-two week low of $0.08 and a fifty-two week high of $0.24. The firm has a market capitalization of $21.47 million, a price-to-earnings ratio of -8.51 and a beta of 0.22. The company’s 50 day moving average price is $0.11 and its two-hundred day moving average price is $0.11.

About Pelangio Exploration

Pelangio Exploration Inc is a Canadian mineral exploration company focused on the discovery and development of gold deposits. The company does not operate producing mines; its activities primarily involve acquiring, evaluating and advancing mineral properties through geological mapping, geochemical and geophysical surveys, drilling and other exploration work.

Pelangio’s exploration portfolio has been concentrated in Ghana, particularly in the country’s highly prospective Ashanti gold belt.