Short Interest in The Generation Essentials Group (NYSE:TGE) Expands By 618.0%

The Generation Essentials Group (NYSE:TGE) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 419,015 shares, a growth of 618.0% from the May 31st total of 58,359 shares. Based on an average daily trading volume, of 675,501 shares, the short-interest ratio is presently 0.6 days. Approximately 1.3% of the company’s stock are short sold.

Institutional Investors Weigh In On The Generation Essentials Group

An institutional investor recently bought a new position in The Generation Essentials Group stock. Osaic Holdings Inc. purchased a new position in The Generation Essentials Group (NYSE:TGE) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 25,900 shares of the company’s stock, valued at approximately $205,000. Osaic Holdings Inc. owned approximately 0.14% of The Generation Essentials Group as of its most recent filing with the Securities & Exchange Commission.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of The Generation Essentials Group in a report on Wednesday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

The Generation Essentials Group Stock Performance

Shares of The Generation Essentials Group stock traded up $0.01 on Friday, hitting $1.11. 27,277 shares of the company’s stock traded hands, compared to its average volume of 994,374. The Generation Essentials Group has a 52-week low of $0.78 and a 52-week high of $9.20. The firm’s 50-day moving average is $1.06 and its 200 day moving average is $1.19.

The Generation Essentials Group (NYSE:TGE) last issued its quarterly earnings results on Wednesday, April 29th. The company reported ($0.14) earnings per share (EPS) for the quarter. The company had revenue of $5.45 million for the quarter.

About The Generation Essentials Group

Tallgrass Energy, LP, through its subsidiaries, provides crude oil transportation services to customers in Wyoming, Colorado, Kansas, and the surrounding regions of the United States. The company operates through three segments: Natural Gas Transportation; Crude Oil Transportation; and Gathering, Processing & Terminalling. It also provides natural gas transportation and storage services for customers in the Rocky Mountain, Midwest, and Appalachian regions; natural gas and crude oil gathering and processing services for customers in Wyoming; and natural gas liquids (NGLs) transportation services in Northeast Colorado and Wyoming.