Gran Tierra Energy (NYSE:GTE) Downgraded to Hold Rating

Gran Tierra Energy (NYSE:GTE) has recently faced a downgrade by stock analysts at StockNews.com, shifting its rating from "buy" to "hold" in a research report released on Tuesday.

Recent Stock Performance

On the same Tuesday when the downgrade was announced, shares of Gran Tierra Energy saw a decline of $0.23, trading at $4.73. During this trading session, a total of 537,408 shares were exchanged, significantly higher than its average trading volume of 321,694 shares. The company's financial health indicators include a current ratio of 1.31, a quick ratio of 1.19, and a debt-to-equity ratio of 1.71. Over the past 50 days, the stock has traded at an average price of $6.51 while its 200-day moving average stands at $6.62. Gran Tierra Energy currently has a market capitalization of approximately $144.97 million, with a price-to-earnings ratio of 3.31 and a beta of 1.49. Over the past year, the stock has reached a low of $4.71 and a high of $10.40.

Insider Transactions

In other news regarding Gran Tierra Energy, Director Ronald Royal sold 19,967 shares on December 2nd for an average price of $6.88, totaling approximately $137,372.96. This transaction has been formally disclosed in a report filed with the SEC. Notably, corporate insiders currently own about 6.45% of the company's shares.

Institutional Interest

Recent institutional trading has shown a shift in stakes among hedge funds regarding Gran Tierra Energy. GSA Capital Partners LLP increased their investment in the company by 76.5% in the third quarter, now holding 101,047 shares valued at $634,000 after acquiring an additional 43,795 shares. Another firm, Victory Capital Management Inc., has taken a new position in Gran Tierra Energy valued at approximately $121,000 during the same quarter. Empowered Funds LLC also raised their holdings by 39.3%, now owning 207,067 shares worth $1,298,000 after a purchase of 58,438 shares. Other institutional players such as Dynamic Technology Lab Private Ltd and PDT Partners LLC have also adjusted their investment levels. Overall, institutional investors now own around 31.70% of Gran Tierra Energy's stock.

Company Overview

Gran Tierra Energy Inc., along with its subsidiaries, focuses on the exploration and production of oil and gas properties primarily located in Colombia and Ecuador. Founded in 2003, the company is headquartered in Calgary, Canada.

Investment Outlook

As analysts have given Gran Tierra Energy a "hold" rating, potential investors may want to explore alternative stocks recommended by top analysts. It has been suggested that other companies may offer better prospects in the current market environment.

GranTierraEnergy, Stock, Finance