The Generation Essentials Group (NYSE:TGE) Short Interest Up 618.0% in June

The Generation Essentials Group (NYSE:TGE) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 419,015 shares, a growth of 618.0% from the May 31st total of 58,359 shares. Currently, 1.3% of the company’s shares are short sold. Based on an average daily volume of 675,501 shares, the days-to-cover ratio is currently 0.6 days.

The Generation Essentials Group Stock Up 1.0%

Shares of TGE opened at $1.11 on Friday. The Generation Essentials Group has a 1-year low of $0.78 and a 1-year high of $9.20. The firm’s 50-day moving average price is $1.06 and its 200-day moving average price is $1.19.

The Generation Essentials Group (NYSE:TGE) last issued its quarterly earnings data on Wednesday, April 29th. The company reported ($0.14) EPS for the quarter. The business had revenue of $5.45 million for the quarter.

Institutional Investors Weigh In On The Generation Essentials Group

An institutional investor recently bought a new position in The Generation Essentials Group stock. NewEdge Advisors LLC purchased a new position in The Generation Essentials Group (NYSE:TGE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,422 shares of the company’s stock, valued at approximately $27,000.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of The Generation Essentials Group in a report on Wednesday. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

About The Generation Essentials Group

Tallgrass Energy, LP, through its subsidiaries, provides crude oil transportation services to customers in Wyoming, Colorado, Kansas, and the surrounding regions of the United States. The company operates through three segments: Natural Gas Transportation; Crude Oil Transportation; and Gathering, Processing & Terminalling. It also provides natural gas transportation and storage services for customers in the Rocky Mountain, Midwest, and Appalachian regions; natural gas and crude oil gathering and processing services for customers in Wyoming; and natural gas liquids (NGLs) transportation services in Northeast Colorado and Wyoming.