Galp Energia SGPS SA (OTCMKTS:GLPEY) Shares Shorted: Short Interest Up 192.4% in October

Galp Energia SGPS SA (OTCMKTS:GLPEY) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totaling 55,419 shares, an increase of 192.4% from the September 30th total of 18,954 shares. Based on an average daily trading volume, of 76,793 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.0% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. HSBC restated a “hold” rating on shares of Galp Energia SGPS in a research report on Friday, September 25th. Barclays restated an “overweight” rating on shares of Galp Energia SGPS in a research report on Monday, October 5th. Citigroup reaffirmed a “neutral” rating on shares of Galp Energia SGPS in a research report on Tuesday, October 13th. Zacks Research raised Galp Energia SGPS from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. Finally, BNP Paribas Exane lowered Galp Energia SGPS to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Galp Energia SGPS Stock Performance

GLPEY stock traded down $0.05 during trading on Thursday, reaching $11.49. The stock had a trading volume of 32,816 shares, compared to its average volume of 88,693. The stock’s 50 day moving average is $12.41 and its two-hundred day moving average is $11.39. The company has a current ratio of 1.53, a quick ratio of 1.20 and a debt-to-equity ratio of 0.54. The firm has a market cap of $15.61 billion and a PE ratio of 14.19. Galp Energia SGPS has a 52 week low of $8.10 and a 52 week high of $13.09.

Galp Energia SGPS (OTCMKTS:GLPEY) last released its quarterly earnings results on Monday, October 26th. The energy company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.36). Galp Energia SGPS had a net margin of 5.43% and a return on equity of 30.13%. The business had revenue of $9.06 billion for the quarter, compared to analysts’ expectations of $9.38 billion. As a group, equities analysts anticipate that Galp Energia SGPS will post 1.45 earnings per share for the current year.

About Galp Energia SGPS

Galp Energia SGPS, SA is a Portuguese integrated energy company with activities spanning exploration and production, refining, trading, and the distribution and sale of energy products. The company supplies fuels, natural gas, electricity, lubricants, and other energy-related products to retail, commercial, and industrial customers.

Galp’s upstream business focuses on the exploration, development, and production of crude oil and natural gas, with a significant presence in Brazil and interests in other international projects.