Karoon Energy Ltd (OTCMKTS:KRNGF – Get Free Report) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 169,790 shares, an increase of 75.1% from the August 15th total of 96,958 shares. Based on an average daily trading volume, of 5,700 shares, the days-to-cover ratio is currently 29.8 days.
Karoon Energy Price Performance
Shares of KRNGF remained flat at $1.19 during trading hours on Wednesday. Karoon Energy has a 1-year low of $0.89 and a 1-year high of $1.61. The stock’s 50-day moving average is $1.14 and its 200-day moving average is $1.27.
Karoon Energy Company Profile
Karoon Energy is an Australian-based oil and gas exploration and production company with a strategic focus on deepwater offshore Brazil. Headquartered in Perth, the company maintains regional offices in Houston and Rio de Janeiro to support technical and commercial operations. Since its establishment in 2005, Karoon has transitioned from onshore Australian projects to build a high-potential portfolio in the prolific Santos and Campos basins.
The company’s flagship asset is its interest in the Sépia oil province in the Santos Basin, which commenced production in late 2020.
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