Gran Tierra Energy (TSE:GTE) Shares Cross Above Fifty Day Moving Average – What’s Next?

Shares of Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$9.02 and traded as high as C$9.56. Gran Tierra Energy shares last traded at C$9.56, with a volume of 11,433 shares.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. 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. Royal Bank of Canada decreased their target price on shares of Gran Tierra Energy from C$10.00 to C$9.50 in a research report on Monday, October 7th.

Gran Tierra Energy Stock Performance

The company has a market cap of C$309.26 million, a P/E ratio of 4.69, a price-to-earnings-growth ratio of 0.23 and a beta of 1.57. The stock’s 50-day moving average price is C$9.04 and its 200 day moving average price is C$10.48. The company has a quick ratio of 0.58, a current ratio of 0.75 and a debt-to-equity ratio of 147.61.

Insider Activity at Gran Tierra Energy

In other news, Director Ronald William Royal sold 19,967 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of C$9.67, for a total transaction of C$193,080.89. 3.32% of the stock is owned by insiders.

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.