Galp Energia Sees Dramatic Increase in Short Interest

Galp Energia, SGPS, S.A. (OTCMKTS:GLPEY) experienced a notable rise in short interest throughout December. As of December 15th, the total short interest reached 33,800 shares. This marks an incredible increase of 356.8% from the 7,400 shares reported on November 30th. With an average daily trading volume of 116,300 shares, the current days-to-cover ratio stands at 0.3 days.

Analyst Ratings Updates

Several research firms have provided updates on GLPEY. On November 22nd, Berenberg Bank upgraded Galp Energia, SGPS to a "strong-buy" rating in their research report. Following that, the Goldman Sachs Group adjusted their rating for the company from "hold" to "strong-buy" on December 4th.

Recent Trading Activity

During midday trading on Thursday, shares of OTCMKTS:GLPEY rose by $0.07, bringing the share price to $8.74. The trading volume for that day was 133,113 shares, compared to an average volume of 77,323 shares. Currently, the company maintains a fifty-day simple moving average of $8.56 and a two-hundred-day simple moving average of $9.53. Galp Energia holds a market capitalization of $12.16 billion, a price-to-earnings ratio of 9.30, and a beta of 0.47. The stock has witnessed a one-year low of $7.26 and a high of $11.05.

Recent Earnings Report

Galp Energia, SGPS last reported its earnings results on October 28th. The energy company declared earnings per share (EPS) of $0.20 for the quarter, surpassing analysts' expectations of $0.16 by $0.04. The firm achieved a return on equity of 24.36% and a net margin of 6.17%, with total revenue amounting to $6.02 billion for that quarter. Analysts predict that the company will report 0.75 EPS for the current financial year.

Company Overview

Galp Energia, SGPS, S.A. operates as an integrated energy provider both in Portugal and internationally. The company organizes its operations into four segments: Upstream, Industrial & Midstream, Commercial, and Renewables and New Business. The Upstream segment focuses on the exploration, development, and production of hydrocarbons mainly in Brazil, Mozambique, Namibia, and Angola.

Investment Considerations

Before making any investment decisions regarding Galp Energia, SGPS, potential investors should consider current market insights. Notably, MarketBeat has identified five stocks that top analysts believe are better buys than Galp Energia, even though the company currently holds a "strong buy" rating.

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