The Generation Essentials Group (NYSE:TGE) Sees Large Increase in Short Interest

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

The Generation Essentials Group Trading Up 4.2%

Shares of NYSE TGE traded up $0.02 during mid-day trading on Wednesday, reaching $0.51. 94,669 shares of the company were exchanged, compared to its average volume of 1,162,965. The Generation Essentials Group has a 1 year low of $0.47 and a 1 year high of $3.21. The firm has a 50-day moving average of $0.91 and a 200 day moving average of $1.09.

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

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of The Generation Essentials Group from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

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.