Short Interest in Energean plc (OTCMKTS:EERGF) Declines By 26.1%

Energean plc (OTCMKTS:EERGF) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totaling 97,965 shares, a drop of 26.1% from the March 15th total of 132,526 shares. Based on an average daily volume of 489 shares, the days-to-cover ratio is presently 200.3 days.

Energean Price Performance

OTCMKTS:EERGF opened at $11.38 on Thursday. The business’s 50-day moving average is $11.64 and its two-hundred day moving average is $11.90. Energean has a 12 month low of $10.65 and a 12 month high of $13.82.

Analyst Ratings Changes

Separately, Jefferies Financial Group lowered shares of Energean from a “hold” rating to an “underperform” rating in a report on Wednesday, February 4th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Energean currently has a consensus rating of “Sell”.

About Energean

Energean plc is an independent oil and gas exploration and production company with a primary focus on natural gas development in the Eastern Mediterranean and select North Sea territories. Headquartered in London, with operational offices in Athens and regional hubs in Tel Aviv and Cairo, the company is listed on the London Stock Exchange and trades in the United States under the ticker EERGF. Energean’s strategy centers on identifying and advancing mid- to late-stage hydrocarbon opportunities that offer rapid time to first production and strong cash-generating potential.

The company’s flagship developments are the Karish and Tanin offshore gas fields in Israel, where Energean sanctioned its first project in 2020 and achieved first gas in mid-2022.