Investing in Gran Tierra Energy Inc. (GTE): What You Must Know


Gran Tierra Energy Inc.’s recently made public that its President and CEO Guidry Gary acquired Company’s shares for reported $0.13 million on Mar 03. In the deal valued at $0.86 per share,150,000 shares were bought. As a result of this transaction, Guidry Gary now holds 4,042,135 shares worth roughly $ 3.35 million.

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Then, Ellson Ryan bought 50,000 shares, generating $43,500 in total proceeds. Upon buying the shares at $0.87, the Chief Financial Officer now owns 635,109 shares.

Canaccord Genuity initiated its Gran Tierra Energy Inc. [GTE] rating to a Buy in a research note published on Friday. A number of analysts have revised their coverage, including CIBC’s analysts, who increased its forecast for the stock in early March from “a Sector underperform” to “a Neutral”. Peel Hunt also remained covering GTE and has increased its forecast on August 06, 2020 with a “Buy” recommendation from previously “Hold” rating. RBC Capital Mkts revised its rating on May 18, 2020. It rated GTE as “a Sector perform” which previously was an “an Outperform”.

Price Performance Review of GTE

On Friday, Gran Tierra Energy Inc. [AMEX:GTE] saw its stock jump 0.01% to $0.83. On the same session, the stock had its day’s lowest price of $0.81, but rose to a high of $0.84. Over the last five days, the stock has lost -5.08%. Gran Tierra Energy Inc. shares have fallen nearly -16.59% since the year began. Nevertheless, the stocks have fallen -48.39% over the past one year. While a 52-week high of $2.15 was reached on 01/27/23, a 52-week low of $0.81 was recorded on 02/21/23. SMA at 50 days reached $0.8968, while 200 days put it at $1.1857. A total of 3.59 million shares were traded, compared to the trading of 2.8 million shares in the previous session.

Levels Of Support And Resistance For GTE Stock

The 24-hour chart illustrates a support level at 0.8106, which if violated will result in even more drops to 0.7955. On the upside, there is a resistance level at 0.8429. A further resistance level may holdings at 0.8601. The Relative Strength Index (RSI) on the 14-day chart is 40.90, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0159, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 81.98%. Stochastics %K at 27.18% indicates the stock is a holding.

How much short interest is there in Gran Tierra Energy Inc.?

A steep rise in short interest was recorded in Gran Tierra Energy Inc. stocks on Jan 30, 2023, growing by 40000.0 shares to a total of 1.58 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 1.54 million shares. There was a rise of 2.53%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 0.47% of the overall stock float, the days-to-cover ratio (short ratio) rose to 0.66.

Gran Tierra Energy Inc. [GTE] – Who Are The Largest Shareholders?

In filings from GMT Capital Corp., it is revealed that the company now owns 22,530,309 shares, or roughly 6.11% of the outstanding GTE shares. In other words, the investor’s shares have risen by 2,415,000 from its previous 13-F filing of 20115309.0. Additionally, RBC Global Asset Management, Inc. increased 6.12% of its stake after which the total value it holdings stand at $15,472,997, while Renaissance Technologies LLC reduced -1.74% of its stake to hold $5.51 million in the firm. Over the last quarter, Two Sigma Advisers LP sold -1,154,500 shares of Gran Tierra Energy Inc., while Connor, Clark & Lunn Investment M sold -178,844 shares. At present, Two Sigma Investments LP is holding 5,159,437 shares valued at $4.3 million. AQR Capital Management LLC owned 4,621,446 shares of the company at the time of its most recent 13F filing, worth $3.85 million.

According to FactSet, Gran Tierra Energy Inc.’s share price will average $1.97 in the next year, based on opinions of analysts polled by the firm. This is up nearly 113.25 percent from its previous closing price of $0.83. Analysts expect Gran Tierra Energy Inc. stock to reach the higher price of $3.69, while the lowest price estimate is $0.92. However, 7 analysts have rated GTE stock as an Overweight in their predictions for 2023.


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