Canacol Energy Ltd (OTCMKTS:CNNEF) Sees Large Decrease in Short Interest

Canacol Energy Ltd (OTCMKTS:CNNEF) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 1,500 shares, a decrease of 46.4% from the October 15th total of 2,800 shares. Based on an average daily trading volume, of 18,100 shares, the days-to-cover ratio is presently 0.1 days.

Canacol Energy Stock Performance

Shares of OTCMKTS:CNNEF traded up $0.01 during midday trading on Thursday, hitting $2.18. The company’s stock had a trading volume of 29,072 shares, compared to its average volume of 10,889. The company has a market cap of $74.36 million, a P/E ratio of 3.25 and a beta of 0.86. Canacol Energy has a 12-month low of $1.99 and a 12-month high of $5.90. The business’s 50 day simple moving average is $2.38 and its 200 day simple moving average is $2.95.

About Canacol Energy

Canacol Energy Ltd operates as an oil and gas company in Colombia. It engages in the exploration and development of natural gas. The company was formerly known as BrazAlta Resources Corp. and changed its name to Canacol Energy Ltd in February 2009. The company was incorporated in 1970 and is headquartered in Calgary, Canada.