Headwater Exploration Inc. (OTCMKTS:CDDRF) Shares Shorted: Short Interest Up 73.9% in September

Headwater Exploration Inc. (OTCMKTS:CDDRF) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 3,055,511 shares, a growth of 73.9% from the September 15th total of 1,757,155 shares. Based on an average daily volume of 424,855 shares, the days-to-cover ratio is currently 7.2 days.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CDDRF. Raymond James Financial reiterated a “market perform” rating on shares of Headwater Exploration in a research note on Wednesday, September 16th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Headwater Exploration in a report on Friday, July 24th. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of Headwater Exploration in a research report on Monday, July 27th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Headwater Exploration presently has a consensus rating of “Moderate Buy”.

Headwater Exploration Stock Performance

OTCMKTS CDDRF traded down $0.03 during trading hours on Thursday, reaching $10.00. The company’s stock had a trading volume of 229 shares, compared to its average volume of 102,324. The business has a 50-day simple moving average of $9.88 and a 200 day simple moving average of $9.36. Headwater Exploration has a 52 week low of $4.84 and a 52 week high of $10.58.

About Headwater Exploration

Headwater Exploration Inc is a Canadian oil and natural gas exploration and production company headquartered in Calgary, Alberta. The company focuses on developing conventional petroleum assets in Western Canada, with an emphasis on oil-weighted opportunities and efficient, repeatable drilling programs.

Headwater’s operations are primarily located in Alberta, including its Clearwater-area properties in the province’s heavy-oil region. Its activities include land acquisition, geological evaluation, drilling, completion, production, and the development of related infrastructure.