Parex Resources Inc. (OTCMKTS:PARXF) Sees Large Growth in Short Interest

Parex Resources Inc. (OTCMKTS:PARXF) saw a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 1,838,933 shares, a growth of 60.2% from the July 30th total of 1,147,616 shares. Based on an average daily volume of 190,964 shares, the short-interest ratio is currently 9.6 days.

Parex Resources Stock Performance

Parex Resources stock opened at $21.34 on Wednesday. Parex Resources has a 12 month low of $11.92 and a 12 month high of $22.14. The stock’s 50 day simple moving average is $17.34 and its two-hundred day simple moving average is $18.07.

Wall Street Analysts Forecast Growth

Separately, Scotiabank reaffirmed a “sector perform” rating on shares of Parex Resources in a research report on Thursday, August 13th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

About Parex Resources

Parex Resources Inc is a Canada-based exploration and production company primarily engaged in the acquisition, development and production of oil resources. The company holds a portfolio of prolific onshore blocks in Colombia, targeting both light and medium crude oil. Parex employs a strategic exploration approach, integrating seismic studies and advanced drilling techniques to optimize reservoir development and enhance recovery rates.

Headquartered in Calgary, Alberta, Parex has focused its operations on Colombia’s Llanos Basin and the Caguan and Putumayo basins.