Pharos Energy PLC (OTCMKTS:SOCLF) Sees Large Decline in Short Interest

Pharos Energy PLC (OTCMKTS:SOCLF) was the target of a large decrease in short interest during the month of April. As of April 30th, there was short interest totaling 8,597 shares, a decrease of 80.2% from the April 15th total of 43,339 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 28,203 shares, the short-interest ratio is presently 0.3 days.

Pharos Energy Stock Performance

SOCLF opened at $0.40 on Tuesday. Pharos Energy has a 52 week low of $0.24 and a 52 week high of $0.43. The business has a 50 day moving average of $0.36 and a 200-day moving average of $0.31.

Pharos Energy Company Profile

Pharos Energy PLC is a London-headquartered independent oil and gas exploration and production company. It focuses on the development, production and optimisation of upstream hydrocarbon assets, with a particular emphasis on cost-effective field operations and reservoir management. The company’s corporate office is based in the City of London, underlining its status as a UK-listed operator with an international footprint.

The company’s flagship asset is its interest in the West Gharib onshore concession in Egypt’s Gulf of Suez region, where Pharos Energy oversees drilling, production, facility maintenance and reservoir surveillance.