Will Canacol Energy Ltd Short Squeeze Soon?

 Will Canacol Energy Ltd Short Squeeze Soon?

The stock of Canacol Energy Ltd (TSE:CNE) is a huge mover today! About 365,031 shares traded hands or 32.09% up from the average. Canacol Energy Ltd (TSE:CNE) has risen 40.00% since March 11, 2016 and is uptrending. It has outperformed by 34.52% the S&P500.
The move comes after 8 months negative chart setup for the $809.60M company. It was reported on Oct, 18 by Barchart.com. We have $4.18 PT which if reached, will make TSE:CNE worth $72.86M less.

Canacol Energy Ltd (TSE:CNE) Ratings Coverage

Out of 4 analysts covering Canacol Energy (TSE:CNE), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $6.90 is the highest target while $2.10 is the lowest. The $5.58 average target is 21.57% above today’s ($4.59) stock price. Canacol Energy has been the topic of 12 analyst reports since September 2, 2015 according to StockzIntelligence Inc. The company was maintained on Wednesday, August 24 by Scotia Capital. The stock has “Outperform” rating given by Scotia Capital on Thursday, September 22. The firm earned “Outperform” rating on Tuesday, June 7 by Scotia Capital.

More notable recent Canacol Energy Ltd (TSE:CNE) news were published by: Stockhouse.com which released: “Canacol Energy Ltd. Tests Trombon 1 Discovery at 26 MMSCFPD” on October 17, 2016, also Marketwired.com with their article: “Canacol Energy Ltd. Tests Nispero 1 Exploration Well at 28 MMSCFPD, Expands …” published on August 23, 2016, Marketwired.com published: “Canacol Energy Ltd. Doubles Natural Gas Drilling Activity In Colombia” on September 21, 2016. More interesting news about Canacol Energy Ltd (TSE:CNE) were released by: Marketwired.com and their article: “Canacol Energy Ltd. Provides Production and Operations Update: Current …” published on February 16, 2016 as well as Marketwired.com‘s news article titled: “Canacol Energy Ltd. Reports Filing of December 31, 2015 Financial Results and …” with publication date: March 28, 2016.

Canacol Energy Ltd. is a Canada-based gas and oil exploration and production company. The company has a market cap of $809.60 million. The Firm is engaged in petroleum and natural gas exploration and development activities in Colombia and Ecuador. It currently has negative earnings. It owns approximately 0.5% interest in Oleoducto Bicentenario de Colombia , which owns a pipeline system that focuses on linking Llanos basin oil production to the Cano Limon oil pipeline system.

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