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

The Generation Essentials Group (NYSE:TGE) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 213,543 shares, a growth of 272.4% from the September 30th total of 57,343 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average daily trading volume, of 1,490,645 shares, the days-to-cover ratio is presently 0.1 days.

Analysts Set New Price Targets

Separately, Weiss Ratings cut The Generation Essentials Group from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, The Generation Essentials Group presently has a consensus rating of “Sell”.

The Generation Essentials Group Price Performance

Shares of TGE stock traded up $0.01 during trading hours on Thursday, reaching $0.53. The company had a trading volume of 77,730 shares, compared to its average volume of 1,157,747. The Generation Essentials Group has a 12-month low of $0.47 and a 12-month high of $3.21. The stock has a fifty day moving average of $0.91 and a 200-day moving average of $1.09.

The Generation Essentials Group (NYSE:TGE) last posted its quarterly earnings results on Wednesday, September 30th. The company reported $0.28 EPS for the quarter. The firm had revenue of $32.93 million for 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.