Short Interest in The Generation Essentials Group (NYSE:TGE) Rises By 618.0%

The Generation Essentials Group (NYSE:TGE) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totaling 419,015 shares, an increase of 618.0% from the May 31st total of 58,359 shares. Based on an average daily trading volume, of 675,501 shares, the short-interest ratio is currently 0.6 days. Approximately 1.3% of the shares of the company are sold short.

Hedge Funds Weigh In On The Generation Essentials Group

An institutional investor recently bought a new stake in The Generation Essentials Group stock. NewEdge Advisors LLC bought a new stake in shares of The Generation Essentials Group (NYSE:TGE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,422 shares of the company’s stock, valued at approximately $27,000.

Analyst Upgrades and Downgrades

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

The Generation Essentials Group Stock Performance

TGE opened at $1.12 on Friday. The Generation Essentials Group has a fifty-two week low of $0.78 and a fifty-two week high of $9.20. The firm’s fifty day moving average is $1.06 and its 200 day moving average is $1.20.

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

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.