Gran Tierra Energy (TSE:GTE) Shares Cross Above Fifty Day Moving Average – What’s Next?

Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$9.19 and traded as high as C$10.55. Gran Tierra Energy shares last traded at C$10.55, with a volume of 77,549 shares trading hands.

Analysts Set New Price Targets

Several brokerages have weighed in on GTE. Canaccord Genuity Group set a C$12.00 target price on Gran Tierra Energy and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Royal Bank of Canada dropped their price objective on Gran Tierra Energy from C$10.00 to C$9.50 in a report on Monday, October 7th.

Gran Tierra Energy Stock Up 8.0 %

The business has a 50-day simple moving average of C$9.19 and a two-hundred day simple moving average of C$10.39. The company has a quick ratio of 0.58, a current ratio of 0.75 and a debt-to-equity ratio of 147.61. The company has a market cap of C$323.36 million, a price-to-earnings ratio of 4.91, a PEG ratio of 0.23 and a beta of 1.57.

Insider Transactions at Gran Tierra Energy

In other news, Director Ronald William Royal sold 19,967 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of C$9.67, for a total value of C$193,080.89. 3.32% of the stock is owned by corporate insiders.

About Gran Tierra Energy

Gran Tierra Energy Inc is an independent energy company. It is engaged in the acquisition, exploration, development, and production of oil and gas properties in proven, under-explored hydrocarbon basins that have access to established infrastructure. The firm produces primarily light crude oil, supplemented with medium crude and natural gas.