Short Interest in The Generation Essentials Group (NYSE:TGE) Drops By 57.7%

The Generation Essentials Group (NYSE:TGE) saw a significant drop in short interest in June. As of June 30th, there was short interest totaling 177,342 shares, a drop of 57.7% from the June 15th total of 419,015 shares. Based on an average daily trading volume, of 1,261,093 shares, the short-interest ratio is currently 0.1 days. Approximately 0.6% of the company’s stock are sold short.

The Generation Essentials Group Trading Down 2.6%

NYSE:TGE traded down $0.03 during mid-day trading on Thursday, reaching $0.95. 22,172 shares of the stock were exchanged, compared to its average volume of 197,039. The company has a 50 day simple moving average of $1.04 and a 200-day simple moving average of $1.19. The Generation Essentials Group has a 1 year low of $0.78 and a 1 year high of $6.50.

The Generation Essentials Group (NYSE:TGE) last issued its quarterly earnings data on Wednesday, April 29th. The company reported ($0.14) earnings per share for the quarter. The business had revenue of $5.45 million during the quarter.

Institutional Trading of The Generation Essentials Group

A hedge fund recently bought a new stake in The Generation Essentials Group stock. Osaic Holdings Inc. acquired a new position in shares of The Generation Essentials Group (NYSE:TGE) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 25,900 shares of the company’s stock, valued at approximately $205,000. Osaic Holdings Inc. owned about 0.14% of The Generation Essentials Group as of its most recent filing with the SEC.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of The Generation Essentials Group in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

About The Generation Essentials Group

Tallgrass Energy, LP, through its subsidiaries, provides crude oil transportation services to customers in Wyoming, Colorado, Kansas, and the surrounding regions of the United States. The company operates through three segments: Natural Gas Transportation; Crude Oil Transportation; and Gathering, Processing & Terminalling. It also provides natural gas transportation and storage services for customers in the Rocky Mountain, Midwest, and Appalachian regions; natural gas and crude oil gathering and processing services for customers in Wyoming; and natural gas liquids (NGLs) transportation services in Northeast Colorado and Wyoming.