Short Interest in Gran Tierra Energy Inc. (NYSEAMERICAN:GTE) Decreases By 9.1%

Gran Tierra Energy Inc. (NYSEAMERICAN:GTE) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 637,000 shares, a decline of 9.1% from the March 15th total of 700,400 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average daily volume of 422,500 shares, the days-to-cover ratio is currently 1.5 days.

Institutional Trading of Gran Tierra Energy

A number of institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership acquired a new position in shares of Gran Tierra Energy in the 1st quarter valued at $7,986,000. Renaissance Technologies LLC grew its holdings in shares of Gran Tierra Energy by 695.5% in the 1st quarter. Renaissance Technologies LLC now owns 5,037,200 shares of the company’s stock valued at $7,909,000 after buying an additional 4,404,000 shares during the period. Royal Bank of Canada lifted its position in Gran Tierra Energy by 19.1% in the 1st quarter. Royal Bank of Canada now owns 12,270,521 shares of the company’s stock valued at $19,265,000 after acquiring an additional 1,970,245 shares in the last quarter. AQR Capital Management LLC lifted its position in Gran Tierra Energy by 71.7% in the 4th quarter. AQR Capital Management LLC now owns 4,621,446 shares of the company’s stock valued at $4,575,000 after acquiring an additional 1,930,480 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Gran Tierra Energy by 1,322.1% in the 4th quarter. Millennium Management LLC now owns 1,750,648 shares of the company’s stock valued at $1,738,000 after acquiring an additional 1,627,545 shares in the last quarter. Institutional investors and hedge funds own 31.70% of the company’s stock.

Analyst Ratings Changes

GTE has been the topic of several research analyst reports. TheStreet cut shares of Gran Tierra Energy from a “c-” rating to a “d” rating in a report on Wednesday, March 6th. StockNews.com upgraded shares of Gran Tierra Energy from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Finally, Royal Bank of Canada upped their price target on shares of Gran Tierra Energy from $9.00 to $10.00 and gave the company a “sector perform” rating in a report on Wednesday, March 13th.

Gran Tierra Energy Price Performance

Shares of GTE traded up $0.03 during mid-day trading on Wednesday, hitting $8.03. 100,751 shares of the company traded hands, compared to its average volume of 410,879. Gran Tierra Energy has a one year low of $4.62 and a one year high of $9.39. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.43 and a quick ratio of 0.32.

Gran Tierra Energy (NYSEAMERICAN:GTE) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.33. Gran Tierra Energy had a negative net margin of 0.99% and a negative return on equity of 1.60%. The business had revenue of $154.94 million for the quarter.

About Gran Tierra Energy

Gran Tierra Energy Inc, together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia and Ecuador. The company was founded in 2003 and is headquartered in Calgary, Canada.