ValuEngine lowered shares of TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) from a sell rating to a strong sell rating in a research report sent to investors on Sunday.

Separately, Zacks Investment Research cut TransGlobe Energy from a hold rating to a sell rating in a research note on Wednesday, December 27th.

Shares of TransGlobe Energy (TGA) traded down $0.02 during midday trading on Friday, reaching $1.44. The company’s stock had a trading volume of 94,500 shares, compared to its average volume of 74,650. The company has a quick ratio of 2.38, a current ratio of 2.78 and a debt-to-equity ratio of 0.37. TransGlobe Energy has a 52 week low of $1.07 and a 52 week high of $1.89. The company has a market capitalization of $105.42, a PE ratio of -0.94 and a beta of 0.77.

An institutional investor recently raised its position in TransGlobe Energy stock. Van ECK Associates Corp boosted its stake in shares of TransGlobe Energy Co. (NASDAQ:TGA) (TSE:TGL) by 7.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 738,116 shares of the basic materials company’s stock after acquiring an additional 48,138 shares during the quarter. Van ECK Associates Corp owned about 1.02% of TransGlobe Energy worth $985,000 as of its most recent SEC filing. 22.36% of the stock is currently owned by institutional investors and hedge funds.

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TransGlobe Energy Company Profile

TransGlobe Energy Corporation is an oil exploration and production company. The Company’s activities are concentrated in the Arab Republic of Egypt (Egypt). The Company conducts its operations through the Arab Republic of Egypt segment. The Company is primarily engaged in oil exploration, development, production and the acquisition of properties.

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