Short Interest in TransGlobe Energy Co. (NASDAQ:TGA) Rises By 27.8%

TransGlobe Energy Co. (NASDAQ:TGA) (TSE:TGL) was the target of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 147,900 shares, an increase of 27.8% from the September 30th total of 115,700 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 135,800 shares, the days-to-cover ratio is presently 1.1 days.

A number of institutional investors and hedge funds have recently bought and sold shares of TGA. Royal Bank of Canada raised its stake in shares of TransGlobe Energy by 58.6% during the 2nd quarter. Royal Bank of Canada now owns 28,326 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 10,469 shares during the period. Jane Street Group LLC bought a new stake in shares of TransGlobe Energy during the 2nd quarter worth $43,000. Sunbelt Securities Inc. raised its stake in shares of TransGlobe Energy by 42.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 30,951 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 9,181 shares during the period. Citadel Advisors LLC bought a new stake in shares of TransGlobe Energy during the 2nd quarter worth $46,000. Finally, Private Advisor Group LLC raised its stake in shares of TransGlobe Energy by 57.0% during the 2nd quarter. Private Advisor Group LLC now owns 34,804 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 12,629 shares during the period. 40.55% of the stock is currently owned by hedge funds and other institutional investors.

Separately, ValuEngine raised shares of TransGlobe Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd.

TGA traded down $0.01 during mid-day trading on Wednesday, reaching $1.17. 52,400 shares of the stock were exchanged, compared to its average volume of 119,813. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.23 and a current ratio of 2.94. The stock has a market capitalization of $89.23 million, a PE ratio of 2.60 and a beta of 1.12. The company has a 50 day moving average price of $1.26 and a two-hundred day moving average price of $1.45. TransGlobe Energy has a 1 year low of $1.15 and a 1 year high of $2.44.

TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) last posted its quarterly earnings data on Monday, August 12th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $43.07 million for the quarter. TransGlobe Energy had a net margin of 16.15% and a return on equity of 8.24%. Sell-side analysts expect that TransGlobe Energy will post 0.82 EPS for the current fiscal year.

About TransGlobe Energy

TransGlobe Energy Corporation, together with its subsidiaries, engages in the exploration, development, and production of crude oil and natural gas in Egypt and Canada. The company holds an interest in five production sharing concessions, including West Gharib, West Bakr, South Alamein, NW Gharib, and South Ghazalat, Egypt; and owns production and working interests in facilities in the Cardium light oil and Mannville liquid-rich gas assets in the Harmattan area of west central Alberta, Canada.

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