Gran Tierra Energy (TSE:GTE) Shares Cross Below 200-Day Moving Average – What’s Next?

Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$10.62 and traded as low as C$9.25. Gran Tierra Energy shares last traded at C$9.64, with a volume of 17,243 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GTE shares. Canaccord Genuity Group set a C$12.00 price target on Gran Tierra Energy and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Royal Bank of Canada reduced their target price on Gran Tierra Energy from C$10.00 to C$9.50 in a report on Monday, October 7th.

Gran Tierra Energy Trading Up 1.7 %

The company has a quick ratio of 0.58, a current ratio of 0.75 and a debt-to-equity ratio of 147.61. The firm has a market capitalization of C$295.47 million, a price-to-earnings ratio of 4.48, a P/E/G ratio of 0.23 and a beta of 1.57. The business has a 50-day moving average of C$8.97 and a two-hundred day moving average of C$10.62.

Insider Activity at Gran Tierra Energy

In other Gran Tierra Energy news, Director Ronald William Royal sold 19,967 shares of Gran Tierra Energy stock in a transaction on Monday, December 2nd. The stock was sold at an average price of C$9.67, for a total transaction of C$193,080.89. 3.32% of the stock is currently owned by insiders.

Gran Tierra Energy Company Profile

Gran Tierra Energy Inc is an independent energy company. It is engaged in the acquisition, exploration, development, and production of oil and gas properties in proven, under-explored hydrocarbon basins that have access to established infrastructure. The firm produces primarily light crude oil, supplemented with medium crude and natural gas.