Gran Tierra Energy (NYSE:GTE) Major Shareholder Equinox Partners Investment Ma Sells 1,093,712 Shares of Stock

Gran Tierra Energy Inc. (NYSE:GTE) major shareholder Equinox Partners Investment Ma sold 1,093,712 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $9.16, for a total value of $10,018,401.92. Following the transaction, the insider owned 412,332 shares in the company, valued at $3,776,961.12. The trade was a 72.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Equinox Partners Investment Ma also recently made the following trade(s):

• On Wednesday, August 5th, Equinox Partners Investment Ma sold 506,288 shares of Gran Tierra Energy stock. The shares were sold at an average price of $10.60, for a total value of $5,366,652.80.

Gran Tierra Energy Price Performance

Shares of Gran Tierra Energy stock traded down $0.51 during trading on Friday, reaching $8.96. The company’s stock had a trading volume of 1,075,721 shares, compared to its average volume of 690,995. The business has a 50 day moving average price of $7.10 and a 200-day moving average price of $7.36. Gran Tierra Energy Inc. has a 12-month low of $3.09 and a 12-month high of $11.52. The company has a market capitalization of $316.83 million, a P/E ratio of 6.27 and a beta of 0.13. The company has a quick ratio of 1.19, a current ratio of 1.31 and a debt-to-equity ratio of 1.71.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GTE. Canaccord Genuity Group set a $14.00 price target on shares of Gran Tierra Energy in a report on Tuesday, April 14th. Roth Capital restated a “buy” rating on shares of Gran Tierra Energy in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Gran Tierra Energy has a consensus rating of “Buy” and an average price target of $9.72.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Bank of America Corp DE boosted its position in shares of Gran Tierra Energy by 270.3% in the 2nd quarter. Bank of America Corp DE now owns 15,962 shares of the company’s stock worth $76,000 after buying an additional 11,651 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Gran Tierra Energy during the 4th quarter valued at about $81,000. nVerses Capital LLC acquired a new position in Gran Tierra Energy during the fourth quarter worth about $84,000. XTX Topco Ltd purchased a new stake in shares of Gran Tierra Energy in the second quarter valued at about $92,000. Finally, Marshall Wace LLP acquired a new stake in shares of Gran Tierra Energy in the second quarter valued at approximately $97,000. Hedge funds and other institutional investors own 31.70% of the company’s stock.

About Gran Tierra Energy

Gran Tierra Energy Inc is an independent oil and gas exploration and production company focused on on-shore assets in South America. Headquartered in Calgary, Alberta, the company trades on the New York Stock Exchange under the symbol GTE. Since its founding in 2006, Gran Tierra has assembled a diversified portfolio of exploration and development blocks, with principal operations in Colombia’s Llanos and Putumayo basins and in Ecuador’s Oriente Basin.

The company’s core activities encompass the full upstream value chain, from geological and geophysical surveys to drilling, completion and production operations.