Alvopetro Energy Ltd. (OTCMKTS:ALVOF) Sees Large Drop in Short Interest

Alvopetro Energy Ltd. (OTCMKTS:ALVOF) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 15,346 shares, a drop of 71.5% from the August 31st total of 53,920 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 157,767 shares, the days-to-cover ratio is presently 0.1 days.

Alvopetro Energy Stock Performance

Shares of Alvopetro Energy stock opened at $7.03 on Friday. The company has a market capitalization of $262.56 million, a PE ratio of 9.50 and a beta of -0.18. The company has a 50-day simple moving average of $7.28 and a two-hundred day simple moving average of $6.65. Alvopetro Energy has a one year low of $4.22 and a one year high of $8.22. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.47 and a current ratio of 1.47.

Alvopetro Energy (OTCMKTS:ALVOF) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. Alvopetro Energy had a net margin of 42.13% and a return on equity of 27.90%. The business had revenue of $19.18 million for the quarter, compared to analyst estimates of $18.54 million. Research analysts expect that Alvopetro Energy will post 0.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Alvopetro Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, Alvopetro Energy has a consensus rating of “Strong Buy”.

Alvopetro Energy Company Profile

Alvopetro Energy Ltd. is a Canadian oil and natural gas exploration and production company focused on developing onshore assets in Brazil. The company’s operations are concentrated in the Recôncavo Basin in the state of Bahia, a region with a long history of oil and gas production.

Alvopetro’s activities include the exploration, development and production of conventional natural gas, crude oil and associated petroleum products. Its Brazilian portfolio includes interests in producing and prospective fields, as well as related infrastructure used to process and transport hydrocarbons.