The stock of Gran Tierra Energy Inc. (TSE:GTE) gapped down by $0.05 today and has $3.33 target or 5.00% below today’s $3.51 share price. The 5 months technical chart setup indicates high risk for the $1.36B company. The gap down was reported on Nov, 29 by Barchart.com. If the $3.33 price target is reached, the company will be worth $68.00 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 730,188 shares traded hands or 19.94% up from the average. Gran Tierra Energy Inc. (TSE:GTE) has 0.00% since April 25, 2016 and is . It has underperformed by 5.26% the S&P500.
Gran Tierra Energy Inc. (TSE:GTE) Ratings Coverage
Out of 7 analysts covering Gran Tierra Energy (TSE:GTE), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. $6 is the highest target while $2.10 is the lowest. The $4.30 average target is 22.51% above today’s ($3.51) stock price. Gran Tierra Energy has been the topic of 14 analyst reports since September 2, 2015 according to StockzIntelligence Inc. TD Securities maintained it with “Action List Buy” rating and $6 target price in Tuesday, November 8 report. The company was upgraded on Friday, December 18 by Scotia Capital. Scotia Capital maintained the stock with “Outperform” rating in Wednesday, August 24 report. On Wednesday, November 16 the stock rating was maintained by TD Securities with “Action List Buy”.
More notable recent Gran Tierra Energy Inc. (TSE:GTE) news were published by: Marketwired.com which released: “Gran Tierra Energy Inc. Announces Two Successful Strategic Acquisitions in the …” on November 28, 2016, also Marketwatch.com with their article: “Gran Tierra Energy Inc. and Petroamerica Oil Corp. Announce Closing of …” published on January 13, 2016, Marketwatch.com published: “Gran Tierra Energy Inc. Announces Colombian Peso Hedging Program” on June 08, 2016. More interesting news about Gran Tierra Energy Inc. (TSE:GTE) were released by: Marketwired.com and their article: “Gran Tierra Energy Inc. Announces Closing of PetroLatina Energy Ltd. Acquisition” published on August 23, 2016 as well as Marketwatch.com‘s news article titled: “Gran Tierra Energy Inc. Announces Increase in 2016 Exploration Capital Budget …” with publication date: June 01, 2016.
Gran Tierra Energy Inc. is an energy firm engaged in gas and oil acquisition, exploration, development and production. The company has a market cap of $1.36 billion. The Firm focuses on onshore gas and oil properties in Colombia, and also own rights to gas and oil properties in Brazil and Peru. It currently has negative earnings. The Company’s divisions are Colombia, Peru and Brazil based on geographic organization.
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