Camber Energy Inc (NYSEAMERICAN:CEI) Could Burn Your Long Portfolio After More Shorts

June 26, 2018 - By Adrian Mccoy

The stock of Camber Energy Inc (NYSEAMERICAN:CEI) registered an increase of 17.64% in short interest. CEI’s total short interest was 506,900 shares in June as published by FINRA. Its up 17.64% from 430,900 shares, reported previously. With 1.03M shares average volume, it will take short sellers 1 days to cover their CEI’s short positions.

The stock decreased 8.71% or $0.0209 during the last trading session, reaching $0.2191. About 648,804 shares traded. Camber Energy, Inc. (NYSEAMERICAN:CEI) has declined 93.69% since June 26, 2017 and is downtrending. It has underperformed by 106.26% the S&P500.

Camber Energy, Inc., an independent oil and natural gas company, engages in the acquisition, development, and sale of crude oil, natural gas, and natural gas liquids in Texas and Oklahoma. The company has market cap of $907,074. The firm holds interests in approximately 13,000 net acres in producing fields located primarily in the Hunton formation in Lincoln, Logan, and Payne Counties, central Oklahoma, as well as in the Cline shale and upper Wolfberry shale in Glasscock County, Texas; and 3,600 net acres in the Horizontal San Andres play on the Central Basin Platform of the Permian Basin in West Texas under a joint venture agreement. It currently has negative earnings. As of March 31, 2017, its total estimated proved reserves were 5.6 million barrels of oil equivalent, such as 1.6 million barrels of crude oil reserves and 4.0 billion cubic feet of natural gas reserves.

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