Alvopetro Energy Ltd. (OTCMKTS:ALVOF) Sees Large Increase in Short Interest

Alvopetro Energy Ltd. (OTCMKTS:ALVOF) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 80,115 shares, a growth of 615.8% from the September 30th total of 11,192 shares. Based on an average trading volume of 68,146 shares, the short-interest ratio is currently 1.2 days. Approximately 0.2% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Zacks Research downgraded Alvopetro Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. One analyst has rated the stock with a Hold rating. According to data from MarketBeat, the company presently has an average rating of “Hold”.

Alvopetro Energy Price Performance

ALVOF stock opened at $6.77 on Thursday. The firm has a 50 day moving average of $7.13 and a 200-day moving average of $6.44. The company has a market cap of $252.93 million, a price-to-earnings ratio of 9.15 and a beta of 0.01. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.12. Alvopetro Energy has a 12-month low of $4.22 and a 12-month high of $8.22.

Alvopetro Energy (OTCMKTS:ALVOF) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Alvopetro Energy had a return on equity of 27.90% and a net margin of 42.13%. The business had revenue of $19.18 million for the quarter, compared to analysts’ expectations of $18.54 million. As a group, equities analysts expect that Alvopetro Energy will post 0.88 EPS for the current fiscal year.

About Alvopetro Energy

Alvopetro Energy Ltd. is a Canadian oil and natural gas company focused on the exploration, development and production of petroleum resources in Brazil. The company’s operations are concentrated in the Reconcavo Basin in the state of Bahia, a mature oil and gas region with established infrastructure and local demand.

Alvopetro’s Brazilian asset portfolio includes interests in the Cabure and Murucututu fields, where it produces natural gas, condensate and oil. The company also owns and operates related midstream infrastructure, including a natural gas processing facility and pipeline assets that connect its production to regional markets.