U.S. Energy Corp. (NASDAQ:USEG) Short Interest Down 24.2% in March

U.S. Energy Corp. (NASDAQ:USEG) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 372,400 shares, a drop of 24.2% from the March 15th total of 491,300 shares. Based on an average daily trading volume, of 3,840,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 3.6% of the company’s stock are sold short.

Hedge Funds Weigh In On U.S. Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. Scissortail Wealth Management LLC acquired a new stake in U.S. Energy in the fourth quarter valued at $73,000. Geode Capital Management LLC raised its stake in shares of U.S. Energy by 27.1% in the 4th quarter. Geode Capital Management LLC now owns 111,528 shares of the energy company’s stock valued at $182,000 after purchasing an additional 23,756 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of U.S. Energy by 24.6% during the fourth quarter. Renaissance Technologies LLC now owns 62,900 shares of the energy company’s stock worth $103,000 after purchasing an additional 12,400 shares during the last quarter. 3.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on USEG. StockNews.com cut U.S. Energy from a “hold” rating to a “sell” rating in a report on Wednesday, April 9th. D. Boral Capital restated a “buy” rating and issued a $3.50 target price on shares of U.S. Energy in a research note on Thursday, March 13th.

U.S. Energy Stock Performance

NASDAQ:USEG opened at $1.15 on Friday. The stock has a market cap of $38.89 million, a price-to-earnings ratio of -0.87 and a beta of 0.66. U.S. Energy has a one year low of $0.81 and a one year high of $6.40. The business’s 50-day simple moving average is $1.43 and its 200 day simple moving average is $1.65.

U.S. Energy Company Profile

U.S. Energy Corp., an independent energy company, focuses on the acquisition, exploration, and development of oil and natural gas properties in the United States. It holds interests in various oil and gas properties located in the Rockies region, including Montana, Wyoming, and North Dakota; the Mid-Continent region comprising Oklahoma, Kansas, and North and East Texas; West Texas; South Texas; and the Gulf Coast regions.