The stock of Gran Tierra Energy Inc. (TSE:GTE) gapped up by $0.17 today and has $4.00 target or 3.00% above today’s $3.88 share price. The 9 months technical chart setup indicates low risk for the $1.43 billion company. The gap was reported on Nov, 30 by Barchart.com. If the $4.00 price target is reached, the company will be worth $42.90 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 1.83M shares traded hands or 200.59% up from the average. Gran Tierra Energy Inc. (TSE:GTE) has declined 6.43% since April 26, 2016 and is downtrending. It has underperformed by 11.66% 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 10.82% above today’s ($3.88) 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. On Wednesday, November 16 the stock rating was maintained by TD Securities with “Action List Buy”. Scotia Capital upgraded Gran Tierra Energy Inc. (TSE:GTE) rating on Friday, December 18. Scotia Capital has “Outperform” rating and $4.50 price target. The company was maintained on Wednesday, August 24 by Scotia Capital.
More important recent Gran Tierra Energy Inc. (TSE:GTE) news were published by: Marketwatch.com which released: “Gran Tierra Energy Inc. and Petroamerica Oil Corp. Announce Closing of …” on January 13, 2016, also Marketwatch.com published article titled: “Gran Tierra Energy Inc. Announces Colombian Peso Hedging Program”, Marketwired.com published: “Gran Tierra Energy Inc. Announces Closing of PetroLatina Energy Ltd. Acquisition” on August 23, 2016. More interesting news about Gran Tierra Energy Inc. (TSE:GTE) was released by: Streetinsider.com and their article: “Form 4 GRAN TIERRA ENERGY INC. For: Nov 29 Filed by: Smith David P” with publication date: November 29, 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 $1.43 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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