Gear Energy Ltd. (OTCMKTS:GENGF) was the target of a large decline in short interest in May. As of May 28th, there was short interest totalling 7,700 shares, a decline of 87.2% from the May 13th total of 60,200 shares. Based on an average daily volume of 148,700 shares, the short-interest ratio is currently 0.1 days.
Shares of Gear Energy stock traded up $0.02 during trading on Friday, reaching $0.66. The stock had a trading volume of 199,611 shares, compared to its average volume of 281,312. The business’s fifty day simple moving average is $0.51. Gear Energy has a 52 week low of $0.11 and a 52 week high of $0.70.
Separately, Stifel Nicolaus cut shares of Gear Energy from a “buy” rating to a “hold” rating in a report on Friday, May 7th.
Gear Energy Ltd., an exploration and production company, acquires, develops, and holds interests in petroleum and natural gas properties and assets in Canada. Its oil-focused operations are located in three core areas, including Lloydminster heavy oil, Central Alberta light/medium oil, and Southeast Saskatchewan light oil.
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