U.S. Energy Corp. (NASDAQ:USEG) Short Interest Down 17.1% in February

U.S. Energy Corp. (NASDAQ:USEG) was the target of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 581,600 shares, a decline of 17.1% from the February 13th total of 701,300 shares. Based on an average daily volume of 3,750,000 shares, the days-to-cover ratio is presently 0.2 days. Approximately 5.7% of the company’s shares are short sold.

Institutional Trading of U.S. Energy

A number of hedge funds and other institutional investors have recently modified their holdings of USEG. Geode Capital Management LLC grew its position in shares of U.S. Energy by 27.1% in the 4th quarter. Geode Capital Management LLC now owns 111,528 shares of the energy company’s stock worth $182,000 after buying an additional 23,756 shares during the period. Renaissance Technologies LLC grew its position in shares of U.S. Energy by 24.6% in the 4th quarter. Renaissance Technologies LLC now owns 62,900 shares of the energy company’s stock worth $103,000 after buying an additional 12,400 shares during the period. Finally, Scissortail Wealth Management LLC purchased a new stake in shares of U.S. Energy in the 4th quarter worth about $73,000. 3.00% of the stock is owned by hedge funds and other institutional investors.

U.S. Energy Trading Up 6.6 %

Shares of U.S. Energy stock opened at $1.45 on Tuesday. The company’s fifty day simple moving average is $2.02 and its two-hundred day simple moving average is $1.62. The company has a market cap of $50.99 million, a P/E ratio of -1.10 and a beta of 0.69. U.S. Energy has a 12-month low of $0.81 and a 12-month high of $6.40.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on USEG. D. Boral Capital reissued a “buy” rating and set a $3.50 price objective on shares of U.S. Energy in a research report on Thursday, March 13th. StockNews.com raised shares of U.S. Energy from a “sell” rating to a “hold” rating in a research report on Thursday, March 13th.

About U.S. Energy

U.S. Energy Corp., an independent energy company, focuses on the acquisition, exploration, and development of oil and natural gas properties in the United States. It holds interests in various oil and gas properties located in the Rockies region, including Montana, Wyoming, and North Dakota; the Mid-Continent region comprising Oklahoma, Kansas, and North and East Texas; West Texas; South Texas; and the Gulf Coast regions.