Gran Tierra Energy (TSE:GTE) Shares Cross Below 200-Day Moving Average – What’s Next?

Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE)’s stock price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$10.62 and traded as low as C$9.25. Gran Tierra Energy shares last traded at C$9.64, with a volume of 17,243 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GTE. Royal Bank of Canada decreased their price target on Gran Tierra Energy from C$10.00 to C$9.50 in a report on Monday, October 7th. Canaccord Genuity Group set a C$12.00 target price on shares of Gran Tierra Energy and gave the company a “buy” rating in a research note on Wednesday, November 27th.

Gran Tierra Energy Stock Up 1.7 %

The business has a fifty day moving average of C$8.97 and a 200 day moving average of C$10.62. The company has a quick ratio of 0.58, a current ratio of 0.75 and a debt-to-equity ratio of 147.61. The firm has a market cap of C$295.47 million, a P/E ratio of 4.48, a P/E/G ratio of 0.23 and a beta of 1.57.

Insider Activity at Gran Tierra Energy

In related news, Director Ronald William Royal sold 19,967 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of C$9.67, for a total value of C$193,080.89. Corporate insiders own 3.32% of the company’s stock.

Gran Tierra Energy Company Profile

Gran Tierra Energy Inc is an independent energy company. It is engaged in the acquisition, exploration, development, and production of oil and gas properties in proven, under-explored hydrocarbon basins that have access to established infrastructure. The firm produces primarily light crude oil, supplemented with medium crude and natural gas.