Short Interest in Tellurian Inc (TELL) Rises By 26.4%
Tellurian Inc (NASDAQ:TELL) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 5,572,787 shares, an increase of 26.4% from the January 12th total of 4,410,089 shares. Approximately 7.8% of the shares of the company are sold short. Based on an average daily volume of 1,022,843 shares, the days-to-cover ratio is presently 5.4 days.
TELL has been the topic of a number of research analyst reports. Stifel Nicolaus initiated coverage on shares of Tellurian in a report on Thursday, January 4th. They issued a “buy” rating and a $16.00 target price on the stock. Seaport Global Securities initiated coverage on shares of Tellurian in a report on Thursday, December 14th. They issued a “buy” rating and a $14.00 target price on the stock. Cowen initiated coverage on shares of Tellurian in a report on Friday, November 17th. They issued an “outperform” rating and a $13.50 target price on the stock. Finally, BidaskClub cut shares of Tellurian from a “hold” rating to a “sell” rating in a report on Thursday, December 14th.
Several hedge funds have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership acquired a new position in Tellurian in the 4th quarter valued at about $545,000. BlackRock Inc. grew its stake in Tellurian by 4.2% in the 4th quarter. BlackRock Inc. now owns 4,417,762 shares of the oil and gas producer’s stock valued at $43,030,000 after buying an additional 177,800 shares during the last quarter. Wells Fargo & Company MN grew its stake in Tellurian by 46.8% in the 4th quarter. Wells Fargo & Company MN now owns 90,641 shares of the oil and gas producer’s stock valued at $883,000 after buying an additional 28,878 shares during the last quarter. Granite Point Capital Management L.P. acquired a new position in Tellurian in the 4th quarter valued at about $438,000. Finally, Swiss National Bank grew its stake in Tellurian by 8.0% in the 4th quarter. Swiss National Bank now owns 107,800 shares of the oil and gas producer’s stock valued at $1,050,000 after buying an additional 8,000 shares during the last quarter. 9.30% of the stock is currently owned by institutional investors.
Tellurian (NASDAQ:TELL) last issued its earnings results on Thursday, November 9th. The oil and gas producer reported ($0.12) earnings per share (EPS) for the quarter. research analysts predict that Tellurian will post -1.26 EPS for the current fiscal year.
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Tellurian Inc, formerly Magellan Petroleum Corporation, is an oil and gas exploration and production company. The Company focuses on the development of liquefied natural gas (LNG) projects along the United States Gulf Coast through its subsidiary, Tellurian Investments Inc The Company owns interests in the Horse Hill-1 well and related licenses in the Weald Basin, onshore the United Kingdom, and an exploration block, NT/P82, in the Bonaparte Basin, offshore Northern Territory, Australia.
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