Pipestone Energy Corp. (OTCMKTS:BKBEF – Get Rating) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 205,300 shares, a drop of 22.9% from the June 15th total of 266,400 shares. Based on an average trading volume of 103,700 shares, the days-to-cover ratio is currently 2.0 days.

Pipestone Energy Price Performance

Shares of BKBEF opened at $2.97 on Wednesday. Pipestone Energy has a fifty-two week low of $1.25 and a fifty-two week high of $5.34. The business has a 50-day moving average of $3.77 and a 200 day moving average of $3.80.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial decreased their price objective on Pipestone Energy from C$7.50 to C$7.00 in a report on Monday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Pipestone Energy currently has an average rating of "Moderate Buy" and a consensus price target of $6.00.

Pipestone Energy Company Profile

Pipestone Energy Corp. engages in the exploration, development, and production of oil, natural gas liquids, and natural gas in Western Canada. It focuses on the Montney asset that covers an area of 91,149 net acres located to southwest of Grande Prairie in Northwest Alberta. The company is headquartered in Calgary, Canada.

Further Reading

• Get a free copy of the StockNews.com research report on Pipestone Energy (BKBEF)
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