How Analysts Feel About Granite Oil Corp After Reaching 52-Week Low?

 How Analysts Feel About Granite Oil Corp After Reaching 52 Week Low?

The stock of Granite Oil Corp (TSE:GXO) hit a new 52-week low and has $4.58 target or 12.00% below today’s $5.21 share price. The 8 months bearish chart indicates high risk for the $168.64M company. The 1-year low was reported on Oct, 31 by Barchart.com. If the $4.58 price target is reached, the company will be worth $20.24M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 50,555 shares traded hands. Granite Oil Corp (TSE:GXO) has declined 23.71% since March 24, 2016 and is downtrending. It has underperformed by 27.18% the S&P500.

Granite Oil Corp (TSE:GXO) Ratings Coverage

Out of 3 analysts covering Granite Oil (TSE:GXO), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $10.50 is the highest target while $6.50 is the lowest. The $8.71 average target is 67.18% above today’s ($5.21) stock price. Granite Oil has been the topic of 15 analyst reports since July 21, 2015 according to StockzIntelligence Inc.

More notable recent Granite Oil Corp (TSE:GXO) news were published by: Marketwired.com which released: “Granite Oil Corp. Announces Second Quarter Results and Monthly Dividend for …” on August 11, 2016, also Marketwired.com with their article: “Granite Oil Corp. Announces 2016 Budget and Guidance Update” published on June 16, 2016, Marketwired.com published: “Granite Oil Corp. Announces Closing of $16.5 Million Bought Deal Financing” on June 15, 2016. More interesting news about Granite Oil Corp (TSE:GXO) were released by: Marketwired.com and their article: “Granite Oil Corp. Announces $15 Million Bought Deal Financing” published on May 26, 2016 as well as Seekingalpha.com‘s news article titled: “Granite Oil Corp. Appears To Be A Bargain” with publication date: May 31, 2016.

Granite Oil Corp., formerly DeeThree Exploration Ltd., is a Canada oil producer based in Calgary, Alberta with lands and activities located in southern Alberta. The company has a market cap of $168.64 million. The Firm is engaged in the exploration for and exploitation, development and production of oil and natural gas. It currently has negative earnings. The Company’s Alberta Bakken Properties are located in southern Alberta, approximately 70 kilometers south of Lethbridge.

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