Pharos Energy PLC (OTCMKTS:SOCLF) Sees Significant Drop in Short Interest

Pharos Energy PLC (OTCMKTS:SOCLF) was the recipient of a large drop in short interest in May. As of May 29th, there was short interest totaling 9,803 shares, a drop of 47.0% from the May 14th total of 18,487 shares. Based on an average daily trading volume, of 810 shares, the short-interest ratio is currently 12.1 days. Currently, 0.0% of the shares of the stock are sold short.

Pharos Energy Stock Performance

Shares of OTCMKTS:SOCLF opened at $0.43 on Friday. Pharos Energy has a 1 year low of $0.24 and a 1 year high of $0.43. The business’s 50 day moving average price is $0.39 and its 200-day moving average price is $0.33.

About Pharos Energy

Pharos Energy PLC is a London-headquartered independent oil and gas exploration and production company. It focuses on the development, production and optimisation of upstream hydrocarbon assets, with a particular emphasis on cost-effective field operations and reservoir management. The company’s corporate office is based in the City of London, underlining its status as a UK-listed operator with an international footprint.

The company’s flagship asset is its interest in the West Gharib onshore concession in Egypt’s Gulf of Suez region, where Pharos Energy oversees drilling, production, facility maintenance and reservoir surveillance.