Short Interest in Gran Tierra Energy Inc. (NYSEAMERICAN:GTE) Decreases By 9.1%

Gran Tierra Energy Inc. (NYSEAMERICAN:GTE) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 637,000 shares, a decrease of 9.1% from the March 15th total of 700,400 shares. Based on an average daily volume of 422,500 shares, the days-to-cover ratio is presently 1.5 days. Approximately 2.0% of the shares of the company are short sold.

Hedge Funds Weigh In On Gran Tierra Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its position in shares of Gran Tierra Energy by 1.0% in the first quarter. California State Teachers Retirement System now owns 324,072 shares of the company’s stock valued at $285,000 after buying an additional 3,360 shares during the last quarter. State Street Corp raised its position in shares of Gran Tierra Energy by 0.6% in the first quarter. State Street Corp now owns 600,125 shares of the company’s stock valued at $528,000 after buying an additional 3,872 shares during the last quarter. Barclays PLC raised its position in shares of Gran Tierra Energy by 16.9% in the third quarter. Barclays PLC now owns 31,420 shares of the company’s stock valued at $219,000 after buying an additional 4,540 shares during the last quarter. Credit Suisse AG raised its position in shares of Gran Tierra Energy by 2.1% in the first quarter. Credit Suisse AG now owns 369,427 shares of the company’s stock valued at $325,000 after buying an additional 7,751 shares during the last quarter. Finally, Jump Financial LLC raised its position in shares of Gran Tierra Energy by 18.7% in the fourth quarter. Jump Financial LLC now owns 50,200 shares of the company’s stock valued at $283,000 after buying an additional 7,900 shares during the last quarter. 31.70% of the stock is owned by hedge funds and other institutional investors.

Gran Tierra Energy Price Performance

NYSEAMERICAN GTE traded up $0.05 during mid-day trading on Wednesday, reaching $8.05. 74,839 shares of the stock were exchanged, compared to its average volume of 410,468. Gran Tierra Energy has a 1 year low of $4.62 and a 1 year high of $9.39. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.43 and a quick ratio of 0.32.

Gran Tierra Energy (NYSEAMERICAN:GTE) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.33. The business had revenue of $154.94 million for the quarter. Gran Tierra Energy had a negative net margin of 0.99% and a negative return on equity of 1.60%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. TheStreet lowered shares of Gran Tierra Energy from a “c-” rating to a “d” rating in a research note on Wednesday, March 6th. StockNews.com upgraded shares of Gran Tierra Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Finally, Royal Bank of Canada upped their price target on shares of Gran Tierra Energy from $9.00 to $10.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 13th.

Gran Tierra Energy Company Profile

Gran Tierra Energy Inc, together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia and Ecuador. The company was founded in 2003 and is headquartered in Calgary, Canada.