Short Interest: Is Buying CGX ENERGY INCORPORATED (OTCMKTS:CGXEF), Having Higher Short Interest a Winning Strategy?

November 29, 2016 - By Nellie Frank   ·   0 Comments

Short Interest: Is Buying CGX ENERGY INCORPORATED (OTCMKTS:CGXEF), Having Higher Short Interest a Winning Strategy?

The stock of CGX ENERGY INCORPORATED (OTCMKTS:CGXEF) registered an increase of 100% in short interest. CGXEF’s total short interest was 5,800 shares in November as published by FINRA. Its up 100% from 2,900 shares, reported previously. With 8,500 shares average volume, it will take short sellers 1 days to cover their CGXEF’s short positions. The stock last traded at $0.1 per share. It is down 33.33% since April 26, 2016 and is downtrending. It has underperformed by 38.59% the S&P500.

CGX Energy Inc. is an oil and gas exploration company. The company has a market cap of $11.02 million. The Firm is engaged in exploring for hydrocarbons in Guyana, South America. It currently has negative earnings. The Firm operates through petroleum and natural gas exploration in Guyana segment.

CGXEF Company Profile

CGX Energy Inc., incorporated on February 21, 1994, is an gas and oil exploration company. The Firm is engaged in exploring for hydrocarbons in Guyana, South America. The Firm operates through petroleum and natural gas exploration in Guyana segment. The Firm holds an interest in approximately three Petroleum Agreements (known as the Corentyne, Berbice and Demerara Blocks) covering over 3.3 million gross acres (approximately 3 million net acres) offshore and onshore Guyana. The Company’s subsidiaries include CGX Resources Inc. (CGX Resources), ON Energy Inc. (ON Energy), GCIE Holdings Limited, Grand Canal Industrial Estates Inc. (Grand Canal) and CGX Energy Management Corp. The Firm conducts its exploration activities in Guyana through its subsidiaries. The Company’s offshore concessions include Corentyne and Demerara. The Company’s onshore concessions include Berbice.

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By Nellie Frank


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