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

Alvopetro Energy Ltd. (OTCMKTS:ALVOF) was the target of a significant decrease in short interest in May. As of May 29th, there was short interest totaling 8,676 shares, a decrease of 79.6% from the May 14th total of 42,496 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 32,561 shares, the days-to-cover ratio is currently 0.3 days.

Alvopetro Energy Stock Up 2.4%

Shares of ALVOF opened at $6.38 on Thursday. The stock has a market capitalization of $236.41 million, a PE ratio of 9.66 and a beta of -0.17. Alvopetro Energy has a 1 year low of $4.10 and a 1 year high of $7.97. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.68 and a current ratio of 1.68. The company’s 50-day simple moving average is $6.30 and its 200-day simple moving average is $5.66.

Alvopetro Energy (OTCMKTS:ALVOF) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.03. The business had revenue of $17.39 million for the quarter, compared to analysts’ expectations of $17.03 million. Alvopetro Energy had a net margin of 40.90% and a return on equity of 25.91%. Analysts forecast that Alvopetro Energy will post 0.89 earnings per share for the current fiscal year.

About Alvopetro Energy

Alvopetro Energy Inc (OTCMKTS: ALVOF) is a Canada-based oil and gas exploration and production company focused on acquiring and developing upstream assets in Brazil. The company targets conventional hydrocarbon resources through a combination of license acquisitions, seismic appraisal and drilling operations, seeking to build a sustainable production profile in emerging Brazilian basins.

Alvopetro’s principal activities are centered in the Potiguar Basin of northeastern Brazil, where it holds working interests in both onshore and shallow-water concession areas.