Short Interest in Karoon Energy Ltd (OTCMKTS:KRNGF) Declines By 91.5%

Karoon Energy Ltd (OTCMKTS:KRNGF) saw a significant drop in short interest in July. As of July 31st, there was short interest totaling 43,676 shares, a drop of 91.5% from the July 15th total of 515,454 shares. Based on an average daily trading volume, of 929 shares, the short-interest ratio is presently 47.0 days.

Karoon Energy Price Performance

Shares of OTCMKTS:KRNGF opened at $1.14 on Wednesday. The business’s 50 day simple moving average is $1.12 and its 200-day simple moving average is $1.26. Karoon Energy has a 12 month low of $0.89 and a 12 month high of $1.61.

Karoon Energy Company Profile

Karoon Energy is an Australian-based oil and gas exploration and production company with a strategic focus on deepwater offshore Brazil. Headquartered in Perth, the company maintains regional offices in Houston and Rio de Janeiro to support technical and commercial operations. Since its establishment in 2005, Karoon has transitioned from onshore Australian projects to build a high-potential portfolio in the prolific Santos and Campos basins.

The company’s flagship asset is its interest in the Sépia oil province in the Santos Basin, which commenced production in late 2020.