Genel Energy plc (OTCMKTS:GEGYF) Stock Short Interest Falls 93.1%

Genel Energy plc (OTCMKTS:GEGYF) was the target of a large drop in short interest in October. As of October 15th, there was short interest totaling 1,435 shares, a drop of 93.1% from the September 30th total of 20,710 shares. Based on an average daily trading volume, of 18 shares, the short-interest ratio is presently 79.7 days.

Genel Energy Stock Performance

OTCMKTS:GEGYF remained flat at $0.77 during midday trading on Monday. Genel Energy has a 52 week low of $0.69 and a 52 week high of $0.99. The firm has a 50 day moving average price of $0.91 and a 200-day moving average price of $0.79.

About Genel Energy

Genel Energy plc is an independent oil and gas company focused primarily on the exploration, development and production of hydrocarbons in the Kurdistan Region of Iraq. The company’s activities include operating and holding interests in upstream oil assets, managing field development programs and selling crude oil produced from its portfolio.

Genel has historically been associated with several significant Kurdistan assets, including interests in the Taq Taq and Tawke oil fields. The company has also pursued exploration opportunities in other regions, including Africa and Morocco, although its business has remained principally centered on its Kurdistan operations.

The company was established in 2002 as Genel Enerji and expanded internationally following its combination with Vallares in 2011.