Topaz Energy Corp. (OTCMKTS:TPZEF) Sees Large Growth in Short Interest

Topaz Energy Corp. (OTCMKTS:TPZEFGet Rating) was the target of a large increase in short interest in May. As of May 15th, there was short interest totalling 242,700 shares, an increase of 92.8% from the April 30th total of 125,900 shares. Based on an average trading volume of 2,400 shares, the days-to-cover ratio is presently 101.1 days.

Shares of TPZEF opened at $18.54 on Friday. The stock’s fifty day simple moving average is $17.51 and its 200 day simple moving average is $15.52. Topaz Energy has a twelve month low of $9.57 and a twelve month high of $19.03.

Several research analysts have recently issued reports on the company. BMO Capital Markets upped their price objective on Topaz Energy from C$23.00 to C$27.00 in a research report on Wednesday, March 2nd. Raymond James boosted their target price on Topaz Energy from C$25.00 to C$26.00 in a report on Friday, February 11th. TD Securities boosted their target price on Topaz Energy from C$26.00 to C$27.00 in a report on Wednesday, May 4th. Desjardins boosted their target price on Topaz Energy from C$23.00 to C$24.00 in a report on Monday, April 4th. Finally, Stifel Nicolaus boosted their target price on Topaz Energy from C$27.25 to C$31.50 in a report on Wednesday, May 4th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $27.30.

About Topaz Energy (Get Rating)

Topaz Energy Corp. operates as a royalty and energy infrastructure company. It operates in Royalty Production and Infrastructure segments. The company holds gross overriding royalty interests on approximately 5.3 million gross acres of developed and undeveloped lands. It is also involved in the natural gas processing and water management infrastructure activities.

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