Headwater Exploration Inc. (OTCMKTS:CDDRF) Short Interest Up 23.3% in October

Headwater Exploration Inc. (OTCMKTS:CDDRF) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 2,478,700 shares, an increase of 23.3% from the October 15th total of 2,011,100 shares. Based on an average daily volume of 83,500 shares, the short-interest ratio is presently 29.7 days.

Analyst Ratings Changes

Separately, Raymond James began coverage on shares of Headwater Exploration in a report on Friday, October 18th. They set a “market perform” rating and a $8.50 price target on the stock.

Headwater Exploration Stock Up 0.6 %

OTCMKTS:CDDRF traded up $0.03 during trading hours on Friday, hitting $4.82. 32,257 shares of the company were exchanged, compared to its average volume of 20,159. Headwater Exploration has a one year low of $4.30 and a one year high of $6.26. The company has a fifty day simple moving average of $4.84 and a 200 day simple moving average of $5.10.

Headwater Exploration Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.0724 dividend. This represents a yield of 5.96%. The ex-dividend date was Friday, September 27th.

Headwater Exploration Company Profile

Headwater Exploration Inc engages in the exploration, development, and production of petroleum and natural gas in Canada. It holds interest in the Marten Hills area located in Alberta, and McCully Field area located in New Brunswick. The company was formerly known as Corridor Resources Inc and changed its name to Headwater Exploration Inc in March 2020.