Tamarack Valley Energy Ltd. (OTCMKTS:TNEYF – Get Rating) was the target of a significant drop in short interest in May. As of May 31st, there was short interest totalling 2,508,200 shares, a drop of 19.6% from the May 15th total of 3,118,500 shares. Based on an average trading volume of 195,000 shares, the days-to-cover ratio is presently 12.9 days.
TNEYF stock opened at $4.37 on Thursday. The business has a fifty day moving average of $4.02 and a two-hundred day moving average of $3.74. Tamarack Valley Energy has a 52-week low of $1.61 and a 52-week high of $5.37.
Several equities analysts have recently weighed in on the company. Royal Bank of Canada raised their target price on Tamarack Valley Energy from C$7.00 to C$7.50 in a research report on Friday, April 22nd. Stifel Nicolaus raised their target price on Tamarack Valley Energy from C$6.50 to C$7.50 in a research report on Monday, March 7th. Raymond James lifted their price objective on Tamarack Valley Energy from C$7.00 to C$7.25 in a research report on Friday, April 22nd. National Bank Financial lifted their price objective on Tamarack Valley Energy from C$7.00 to C$8.00 in a research report on Thursday, April 14th. Finally, CIBC lifted their price objective on Tamarack Valley Energy from C$7.50 to C$8.00 in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tamarack Valley Energy currently has an average rating of “Buy” and an average target price of $6.59.
Tamarack Valley Energy Company Profile (Get Rating)
Tamarack Valley Energy Ltd. acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Western Canadian sedimentary basin. It primarily holds interests in the Clearwater assets covering an area of approximately 357 sections of land located in Alberta; Charlie Lake assets covering approximately 357 sections of land in the northwestern area of Alberta; Viking light oil play in central and southern Alberta and west central Saskatchewan; Barons Sand oil play in the Penny area of southern Alberta; and heavy oil properties.
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