The Generation Essentials Group (NYSE:TGE) Sees Significant Decline in Short Interest

The Generation Essentials Group (NYSE:TGE) was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totaling 177,342 shares, a decline of 57.7% from the June 15th total of 419,015 shares. Based on an average daily trading volume, of 1,261,093 shares, the short-interest ratio is currently 0.1 days. Approximately 0.6% of the shares of the company are sold short.

Hedge Funds Weigh In On The Generation Essentials Group

An institutional investor recently bought a new position in The Generation Essentials Group stock. NewEdge Advisors LLC purchased a new position in The Generation Essentials Group (NYSE:TGE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,422 shares of the company’s stock, valued at approximately $27,000.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of The Generation Essentials Group in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

The Generation Essentials Group Price Performance

NYSE:TGE traded down $0.03 on Wednesday, reaching $0.96. 42,022 shares of the company’s stock traded hands, compared to its average volume of 198,339. The stock has a 50-day simple moving average of $1.04 and a 200-day simple moving average of $1.19. The Generation Essentials Group has a 12 month low of $0.78 and a 12 month high of $6.50.

The Generation Essentials Group (NYSE:TGE) last released its earnings results on Wednesday, April 29th. The company reported ($0.14) earnings per share (EPS) for the quarter. The company had revenue of $5.45 million during the quarter.

The Generation Essentials Group Company Profile

Tallgrass Energy, LP, through its subsidiaries, provides crude oil transportation services to customers in Wyoming, Colorado, Kansas, and the surrounding regions of the United States. The company operates through three segments: Natural Gas Transportation; Crude Oil Transportation; and Gathering, Processing & Terminalling. It also provides natural gas transportation and storage services for customers in the Rocky Mountain, Midwest, and Appalachian regions; natural gas and crude oil gathering and processing services for customers in Wyoming; and natural gas liquids (NGLs) transportation services in Northeast Colorado and Wyoming.