Cairn Energy PLC (OTCMKTS:CRNCY) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totalling 1,300 shares, a decline of 92.5% from the March 15th total of 17,400 shares. Based on an average daily trading volume, of 400 shares, the short-interest ratio is currently 3.3 days.
Shares of OTCMKTS:CRNCY remained flat at $$4.64 during trading on Wednesday. The business has a 50-day simple moving average of $5.01 and a 200-day simple moving average of $4.62. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.36 and a current ratio of 1.39. The stock has a market capitalization of $1.16 billion, a P/E ratio of 20.17 and a beta of 2.25. Cairn Energy has a one year low of $2.42 and a one year high of $6.87.
A number of analysts recently commented on the stock. AlphaValue raised shares of Cairn Energy to a “sell” rating in a report on Thursday, December 24th. Barclays reissued an “overweight” rating on shares of Cairn Energy in a report on Monday, January 11th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Cairn Energy in a report on Thursday, March 4th. Zacks Investment Research downgraded shares of Cairn Energy from a “hold” rating to a “sell” rating in a report on Tuesday, March 23rd. Finally, Stifel Nicolaus downgraded shares of Cairn Energy from a “buy” rating to a “hold” rating in a report on Friday, December 18th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $5.75.
Cairn Energy Company Profile
Cairn Energy PLC operates as an independent oil and gas exploration, development, and production company. It holds a portfolio of exploration, development, and production assets in the United Kingdom, Israel, Mauritania, Cote d'Ivoire, Mexico, and Suriname. The company was founded in 1980 and is headquartered in Edinburgh, the United Kingdom.
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