Lilis Energy (NYSEAMERICAN:LLEX) was the recipient of a significant growth in short interest during the month of April. As of April 13th, there was short interest totalling 3,898,292 shares, a growth of 6.9% from the March 30th total of 3,646,461 shares. Based on an average trading volume of 163,657 shares, the short-interest ratio is currently 23.8 days. Currently, 16.0% of the shares of the company are sold short.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LLEX. Wells Fargo & Company MN raised its holdings in shares of Lilis Energy by 799.6% during the fourth quarter. Wells Fargo & Company MN now owns 26,816 shares of the company’s stock valued at $137,000 after buying an additional 23,835 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Lilis Energy by 163.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 34,936 shares of the company’s stock valued at $179,000 after buying an additional 21,692 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Lilis Energy by 123.0% during the fourth quarter. Deutsche Bank AG now owns 93,984 shares of the company’s stock valued at $479,000 after buying an additional 51,840 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Lilis Energy by 9.0% during the fourth quarter. Geode Capital Management LLC now owns 331,987 shares of the company’s stock valued at $1,696,000 after buying an additional 27,331 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Lilis Energy by 1.3% during the fourth quarter. BlackRock Inc. now owns 2,019,513 shares of the company’s stock valued at $10,320,000 after buying an additional 25,730 shares during the last quarter.

NYSEAMERICAN LLEX traded down $0.17 during trading hours on Tuesday, reaching $3.87. The company’s stock had a trading volume of 183,094 shares, compared to its average volume of 210,086. Lilis Energy has a 52 week low of $2.95 and a 52 week high of $5.69.

Lilis Energy announced that its board has authorized a share buyback plan on Wednesday, February 21st that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

A number of equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Lilis Energy from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. B. Riley assumed coverage on shares of Lilis Energy in a report on Tuesday, February 6th. They issued a “buy” rating and a $5.50 target price on the stock. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $6.56.

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About Lilis Energy

Lilis Energy, Inc, an independent oil and gas company, engages in the exploration, acquisition, development, and production of oil and natural gas properties. The company's total net acreage in the Permian Basin is approximately 19,000 acres. As of December 31, 2017, it had proved reserves of 11,453 million barrels of oil equivalent, including proved developed reserves of 4,275 million barrels of oil equivalent and proved undeveloped reserves of 7,178 million barrels of oil equivalent.

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