Short Interest in Headwater Exploration Inc. (OTCMKTS:CDDRF) Grows By 23.3%

Headwater Exploration Inc. (OTCMKTS:CDDRF) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 2,478,700 shares, an increase of 23.3% from the October 15th total of 2,011,100 shares. Based on an average daily volume of 83,500 shares, the days-to-cover ratio is currently 29.7 days.

Headwater Exploration Trading Up 1.6 %

Headwater Exploration stock traded up $0.08 during trading hours on Friday, hitting $4.90. The stock had a trading volume of 136,023 shares, compared to its average volume of 20,695. The company has a 50-day moving average of $4.84 and a two-hundred day moving average of $5.09. Headwater Exploration has a fifty-two week low of $4.30 and a fifty-two week high of $6.26.

Headwater Exploration Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.0724 dividend. This represents a yield of 5.96%. The ex-dividend date was Friday, September 27th.

Wall Street Analysts Forecast Growth

Separately, Raymond James initiated coverage on shares of Headwater Exploration in a research note on Friday, October 18th. They issued a “market perform” rating and a $8.50 price objective for the company.

Headwater Exploration Company Profile

Headwater Exploration Inc engages in the exploration, development, and production of petroleum and natural gas in Canada. It holds interest in the Marten Hills area located in Alberta, and McCully Field area located in New Brunswick. The company was formerly known as Corridor Resources Inc and changed its name to Headwater Exploration Inc in March 2020.