Gran Tierra Energy (GTE) Shares are Up 10.26%

Gran Tierra Energy (GTE) : Traders are bullish on Gran Tierra Energy (GTE) as it has outperformed the S&P 500 by a wide margin of 3.64% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 10.07%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 10.26% in the last 1 week, and is up 3.08% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 6.4% and the 50-Day Moving Average is 6.19%.The 200 Day SMA reached 12.78%

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Gran Tierra Energy (NYSEMKT:GTE): The stock opened in the green at $3.03 on Friday, but the bulls found it difficult to push the prices higher. The stock reached a high of $3.075 and a low of $2.98 for the day. The stock did not find buyers even at the lows and closed at $3.01 recording a loss of -0.33%. 1,879,196 shares exchanged hands during the trading day. The stock had closed at $3.01 in the previous days trading.

Gran Tierra Energy (GTE) : The highest short term price target forecast on Gran Tierra Energy (GTE) is $6 and the lowest target price is $4. A total of 2 equity analysts are currently covering the company. The average price of all the analysts is $4.78 with a standard deviation of $1.73.

Gran Tierra Energy Inc. is an energy Company. Through its subsidiaries, the Company is engaged in oil and gas acquisition, exploration, development and production. The Company owns the rights to oil and gas properties in Colombia, Peru and Brazil. In Colombia, the Company focuses on developing its producing light oil fields, including Costayaco and Moqueta, and on the generation of exploration prospects. In Peru, the Company is engaged in engineering, procurement and construction work in preparation for a long-term production test. It commenced drilling the Bretana Sur 95-3-4-1X well and drilled the Bretana Sur 95-2-1XD water disposal well. In Brazil, on Block REC-T-155, the Company completed the dual completions of the 3-GTE-03-BA and 4-GTE-04-BA development wells in the Tie field and completed single-stage fracture stimulation on the 1-GTE-8DP-BA exploration well.

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