Short Interest in Lilis Energy Inc (LLEX) Drops By 4.3%
Lilis Energy Inc (NYSEAMERICAN:LLEX) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 3,515,480 shares, a drop of 4.3% from the October 31st total of 3,672,262 shares. Based on an average daily volume of 124,943 shares, the days-to-cover ratio is currently 28.1 days. Approximately 12.7% of the shares of the stock are sold short.
Several brokerages recently weighed in on LLEX. Northland Securities lowered Lilis Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded Lilis Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Capital One Financial Corporation began coverage on Lilis Energy in a research report on Thursday, October 5th. They issued an “overweight” rating and a $7.00 price objective for the company. Seaport Global Securities reiterated a “buy” rating and issued a $8.00 price objective (up from $6.75) on shares of Lilis Energy in a research report on Wednesday, October 4th. Finally, SunTrust Banks, Inc. began coverage on Lilis Energy in a research report on Monday, August 14th. They issued a “buy” rating and a $7.00 price objective for the company. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $6.71.
In related news, major shareholder Fund Vertex sold 10,720 shares of the stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $5.01, for a total value of $53,707.20. Following the completion of the sale, the insider now owns 6,962,640 shares of the company’s stock, valued at $34,882,826.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
A hedge fund recently raised its stake in Lilis Energy stock. Wolverine Trading LLC raised its position in shares of Lilis Energy Inc (NYSEAMERICAN:LLEX) by 411.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,188 shares of the company’s stock after buying an additional 49,214 shares during the period. Wolverine Trading LLC owned about 0.12% of Lilis Energy worth $274,000 as of its most recent filing with the Securities & Exchange Commission.
Shares of Lilis Energy (NYSEAMERICAN:LLEX) traded down $0.05 during trading on Monday, reaching $4.79. The company had a trading volume of 49,199 shares, compared to its average volume of 204,032. Lilis Energy has a 52 week low of $2.30 and a 52 week high of $5.69.
About Lilis Energy
Lilis Energy, Inc is an upstream independent oil and gas company. The Company is engaged in the acquisition, drilling and production of oil and natural gas properties and prospects. The Company drills for, operates and produces oil and natural gas wells through its land holdings located in Wyoming, Colorado, and Nebraska.
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