Genel Energy plc (OTCMKTS:GEGYF) Stock Short Interest Declines 98.5%

Genel Energy plc (OTCMKTS:GEGYF) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totaling 350 shares, a decrease of 98.5% from the August 31st total of 22,620 shares. Based on an average daily volume of 0 shares, the short-interest ratio is currently ∞ days.

Genel Energy Price Performance

OTCMKTS GEGYF traded down $0.11 during trading on Friday, hitting $0.87. 100 shares of the company traded hands, compared to its average volume of 4,350. The business has a fifty day simple moving average of $0.87 and a 200 day simple moving average of $0.79. Genel Energy has a 12 month low of $0.69 and a 12 month high of $0.99.

Genel Energy Company Profile

Genel Energy plc is an independent oil and gas company focused on the exploration, development and production of hydrocarbons. The company’s activities are centered primarily in the Kurdistan Region of Iraq, where it holds interests in producing and development-stage oil assets.

Genel Energy has historically held interests in the Tawke and Taq Taq oil fields. Tawke is operated by DNO, while Taq Taq is operated through a joint venture structure. The company’s portfolio has also included exploration and appraisal opportunities in the Kurdistan Region and other frontier geographies, including Somaliland.

The company was formed in 2011 through the combination of Vallares plc and Genel Enerji, a Turkish oil company with significant assets in the Kurdistan Region.