The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Gran Tierra Energy Inc. shares valued at $129,000 were purchased by Guidry Gary on Mar 03. At $0.86 per share, Guidry Gary acquired 150,000 shares. The insider’s holdings grew to 4,042,135 shares worth approximately $3.44 million following the completion of this transaction.
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Also, Ellson Ryan purchased 50,000 shares, netting a total of over 43,500 in proceeds. Following the buying of shares at $0.87 each, the insider now holds 635,109 shares.
As published in their initiating research note from Canaccord Genuity on April 18, 2022, Gran Tierra Energy Inc. [GTE] has been a Buy. Analysts at CIBC upgraded the stock from ‘”a Sector underperform”‘ to ‘”a Neutral”‘ outlook in a report released in early March. As of August 06, 2020, Peel Hunt has increased its “Hold” rating to a “Buy” for GTE. Earlier on May 18, 2020, RBC Capital Mkts downgraded its rating. Their new recommendation was “a Sector perform” for GTE stock which previously was a “an Outperform”.
Analyzing GTE Stock Performance
On Wednesday, Gran Tierra Energy Inc. [AMEX: GTE] plunged -3.88% to $0.85. The stock’s lowest price that day was $0.84, but it reached a high of $0.90 in the same session. During the last five days, there has been a surge of approximately 2.00%. Over the course of the year, Gran Tierra Energy Inc. shares have dropped approximately -14.14%. Shares of the company reached a 52-week high of $1.0300 on 01/27/23 and a 52-week low of $0.8100 on 02/21/23. A 50-day SMA is recorded $0.9020, while a 200-day SMA reached $1.1927. Nevertheless, trading volume fell to 3.95 million shares from 4.72 million shares the previous day.
Support And Resistance Levels for Gran Tierra Energy Inc. (GTE)
According to the 24-hour chart, there is a support level at 0.8279, which, if violated, would cause prices to drop to 0.8059. In the upper region, resistance lies at 0.8846. The next price resistance is at 0.9193. RSI (Relative Strength Index) is 44.59 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0169, which suggests the price will decrease in the coming days. Percent R is at 54.39%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Gran Tierra Energy Inc. subject to short interest?
Stocks of Gran Tierra Energy Inc. saw a sharp rise in short interest on Jan 30, 2023 jumping by 40000.0 shares to 1.58 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 1.54 million shares. A jump of 2.53% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 0.66 of the overall float, the days-to-cover ratio (short ratio) jumped to 0.66.
Which companies own the most shares of Gran Tierra Energy Inc. (GTE)?
According to GMT Capital Corp. filings, the company currently owns 22,530,309 shares, which is about 6.11% of the total GTE shares outstanding. The investor’s shares have appreciated by 2,415,000 from its previous 13-F filing of 20115309.0 shares. With the completion of the buy transaction, RBC Global Asset Management, Inc.’s stake is now worth $17,996,171. Renaissance Technologies LLC reduced a -1.74% interest valued at $6.41 million while Two Sigma Advisers LP sold a -1,154,500 stake. A total of -178,844 shares of Gran Tierra Energy Inc. were sold by Connor, Clark & Lunn Investment M during the quarter, and -2,235,772 were sold by Two Sigma Investments LP. In its current portfolio, AQR Capital Management LLC holds 4,621,446 shares valued at $4.48 million.
In terms of Gran Tierra Energy Inc. share price expectations, FactSet research, analysts set an average price target of $1.97 in the next 12 months, up nearly 101.14% from the previous closing price of $0.88. Analysts anticipate Gran Tierra Energy Inc. stock to reach $3.69 by 2023, with the lowest price target being $0.92. In spite of this, 7 analysts ranked Gran Tierra Energy Inc. stock as an Overweight at the end of 2023.