Canacol Energy Ltd (OTCMKTS:CNNEF) Sees Significant Drop in Short Interest

Canacol Energy Ltd (OTCMKTS:CNNEF) saw a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 14,100 shares, a decrease of 57.4% from the February 28th total of 33,100 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 8,400 shares, the short-interest ratio is currently 1.7 days.

Canacol Energy Stock Down 2.9 %

Shares of OTCMKTS:CNNEF opened at $2.54 on Friday. Canacol Energy has a 12 month low of $1.99 and a 12 month high of $3.98. The firm has a market cap of $86.60 million, a P/E ratio of -2.64 and a beta of 0.99. The company’s 50-day moving average price is $2.63 and its two-hundred day moving average price is $2.55.

Canacol Energy (OTCMKTS:CNNEF) last issued its quarterly earnings results on Thursday, March 20th. The company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($1.65). The company had revenue of $98.34 million for the quarter, compared to analyst estimates of $138.92 million.

About Canacol Energy

Canacol Energy Ltd operates as an oil and gas company in Colombia. It engages in the exploration and development of natural gas. The company was formerly known as BrazAlta Resources Corp. and changed its name to Canacol Energy Ltd in February 2009. The company was incorporated in 1970 and is headquartered in Calgary, Canada.