Alvopetro Energy Ltd. (OTCMKTS:ALVOF) Stock Short Interest Rises 615.8%

Alvopetro Energy Ltd. (OTCMKTS:ALVOF) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 80,115 shares, an increase of 615.8% from the September 30th total of 11,192 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily volume of 68,146 shares, the days-to-cover ratio is presently 1.2 days.

Alvopetro Energy Stock Performance

Shares of ALVOF opened at $6.72 on Wednesday. Alvopetro Energy has a one year low of $4.22 and a one year high of $8.22. The company has a 50-day simple moving average of $7.14 and a two-hundred day simple moving average of $6.43.

Alvopetro Energy (OTCMKTS:ALVOF) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. The firm had revenue of $19.18 million for the quarter, compared to the consensus estimate of $18.54 million. As a group, equities research analysts predict that Alvopetro Energy will post 0.88 EPS for the current year.

Analysts Set New Price Targets

Separately, Zacks Research lowered shares of Alvopetro Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. One analyst has rated the stock with a Hold rating. According to MarketBeat.com, the company presently has an average rating of “Hold”.

Alvopetro Energy Company Profile

Alvopetro Energy Ltd. is a Canadian oil and natural gas company focused on the exploration, development and production of petroleum resources in Brazil. The company’s operations are concentrated in the Reconcavo Basin in the state of Bahia, a mature oil and gas region with established infrastructure and local demand.

Alvopetro’s Brazilian asset portfolio includes interests in the Cabure and Murucututu fields, where it produces natural gas, condensate and oil. The company also owns and operates related midstream infrastructure, including a natural gas processing facility and pipeline assets that connect its production to regional markets.