Short Interest in Alvopetro Energy Ltd. (OTCMKTS:ALVOF) Decreases By 13.7%

Alvopetro Energy Ltd. (OTCMKTS:ALVOF) saw a large decrease in short interest in March. As of March 13th, there was short interest totaling 3,676 shares, a decrease of 13.7% from the February 26th total of 4,262 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 53,391 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Alvopetro Energy to a “hold” rating in a research note on Monday, January 12th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Alvopetro Energy Stock Performance

Shares of ALVOF opened at $7.44 on Tuesday. Alvopetro Energy has a 1 year low of $3.17 and a 1 year high of $7.63. The stock has a market capitalization of $273.27 million and a PE ratio of 12.20. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a 50-day simple moving average of $5.88 and a 200-day simple moving average of $5.09.

Alvopetro Energy (OTCMKTS:ALVOF) last released its earnings results on Tuesday, March 17th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. Alvopetro Energy had a net margin of 39.86% and a return on equity of 25.11%. The firm had revenue of $15.76 million for the quarter, compared to analyst estimates of $20.59 million.

About Alvopetro Energy

Alvopetro Energy Inc (OTCMKTS: ALVOF) is a Canada-based oil and gas exploration and production company focused on acquiring and developing upstream assets in Brazil. The company targets conventional hydrocarbon resources through a combination of license acquisitions, seismic appraisal and drilling operations, seeking to build a sustainable production profile in emerging Brazilian basins.

Alvopetro’s principal activities are centered in the Potiguar Basin of northeastern Brazil, where it holds working interests in both onshore and shallow-water concession areas.