Genel Energy plc (OTCMKTS:GEGYF – Get Free Report) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 1,435 shares, a decline of 93.1% from the September 30th total of 20,710 shares. Based on an average daily volume of 18 shares, the days-to-cover ratio is currently 79.7 days.
Genel Energy Stock Performance
Genel Energy stock remained flat at $0.77 during midday trading on Wednesday. Genel Energy has a fifty-two week low of $0.69 and a fifty-two week high of $0.99. The company has a 50 day moving average price of $0.90 and a 200-day moving average price of $0.80.
About Genel Energy
Genel Energy plc is an independent oil and gas company focused primarily on the exploration, development and production of hydrocarbons in the Kurdistan Region of Iraq. The company’s activities include operating and holding interests in upstream oil assets, managing field development programs and selling crude oil produced from its portfolio.
Genel has historically been associated with several significant Kurdistan assets, including interests in the Taq Taq and Tawke oil fields. The company has also pursued exploration opportunities in other regions, including Africa and Morocco, although its business has remained principally centered on its Kurdistan operations.
The company was established in 2002 as Genel Enerji and expanded internationally following its combination with Vallares in 2011.
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