Short Interest in Erin Energy Corp (ERN) Decreases By 14.0%
Erin Energy Corp (NYSEAMERICAN:ERN) was the recipient of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 476,114 shares, a decline of 14.0% from the February 15th total of 553,600 shares. Based on an average trading volume of 30,979 shares, the days-to-cover ratio is presently 15.4 days. Currently, 4.4% of the company’s shares are sold short.
Erin Energy (NYSEAMERICAN:ERN) opened at $3.75 on Friday. The firm has a market cap of $806.08, a PE ratio of -3.95 and a beta of 1.96. Erin Energy has a 1 year low of $1.15 and a 1 year high of $4.00.
Several hedge funds have recently made changes to their positions in ERN. Northern Trust Corp boosted its position in shares of Erin Energy by 27.1% during the 2nd quarter. Northern Trust Corp now owns 123,686 shares of the company’s stock valued at $179,000 after acquiring an additional 26,408 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Erin Energy by 106.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 134,389 shares of the company’s stock valued at $195,000 after acquiring an additional 69,354 shares during the last quarter. Schwab Charles Investment Management Inc. acquired a new position in shares of Erin Energy during the 3rd quarter valued at about $197,000. Finally, Carnick & Kubik Group LLC acquired a new position in shares of Erin Energy during the 4th quarter valued at about $123,000.
Erin Energy Corporation is an independent oil and gas exploration and production company. The Company is focused on energy resources in Africa. It is focused on exploration for and production of hydrocarbons where commercial reserves have been found and developed. As of December 31, 2016, the Company’s asset portfolio consisted of seven licenses across four countries covering an area of approximately five million acres (approximately 19,000 square kilometers).
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