TransGlobe Energy Co. (NASDAQ:TGA) Short Interest Down 64.2% in December

TransGlobe Energy Co. (NASDAQ:TGA) (TSE:TGL) saw a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 40,100 shares, a decrease of 64.2% from the December 15th total of 112,000 shares. Based on an average daily volume of 0 shares, the days-to-cover ratio is presently ∞ days.

A number of equities research analysts have recently issued reports on TGA shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $320.00 target price on shares of TransGlobe Energy in a report on Monday, January 10th. TheStreet raised shares of TransGlobe Energy from a “c” rating to a “b-” rating in a report on Tuesday, November 30th. Finally, reissued a “buy” rating on shares of TransGlobe Energy in a report on Thursday, November 4th.

Several large investors have recently made changes to their positions in TGA. Royal Bank of Canada grew its position in shares of TransGlobe Energy by 20.2% during the 3rd quarter. Royal Bank of Canada now owns 23,960 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 4,021 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of TransGlobe Energy during the 2nd quarter worth approximately $77,000. Private Advisor Group LLC grew its position in shares of TransGlobe Energy by 55.1% during the 3rd quarter. Private Advisor Group LLC now owns 37,233 shares of the basic materials company’s stock worth $81,000 after purchasing an additional 13,229 shares in the last quarter. Millennium Management LLC grew its position in shares of TransGlobe Energy by 30.8% during the 2nd quarter. Millennium Management LLC now owns 47,734 shares of the basic materials company’s stock worth $92,000 after purchasing an additional 11,235 shares in the last quarter. Finally, Deutsche Bank AG grew its position in shares of TransGlobe Energy by 2,372.0% during the 2nd quarter. Deutsche Bank AG now owns 61,800 shares of the basic materials company’s stock worth $119,000 after purchasing an additional 59,300 shares in the last quarter. Hedge funds and other institutional investors own 19.65% of the company’s stock.

TransGlobe Energy stock opened at $3.26 on Friday. The stock has a market cap of $236.49 million, a P/E ratio of 7.58 and a beta of 2.85. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.04. TransGlobe Energy has a twelve month low of $0.93 and a twelve month high of $3.59. The company’s 50-day moving average price is $2.96 and its two-hundred day moving average price is $2.37.

TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) last released its quarterly earnings results on Wednesday, November 3rd. The basic materials company reported $0.17 earnings per share for the quarter. TransGlobe Energy had a net margin of 17.42% and a return on equity of 4.19%. The firm had revenue of $57.87 million for the quarter.

About TransGlobe Energy

TransGlobe Energy Corp. engages in exploration, development, production, and acquisition of properties. Its activities include the operation of Harmattan; West Gharib, West Bakr, and North West Gharib in Egypt-Eastern Desert; and South Alamein, South Ghazalat, and North West Sitra in Egypt-Western Desert; and oil marketing.

Further Reading: Shanghai Stock Exchange Composite Index

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