SandRidge Energy, Inc. (NYSE:SD) Sees Significant Growth in Short Interest
by Mitch Edgeman · The Markets DailySandRidge Energy, Inc. (NYSE:SD – Get Free Report) saw a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 1,905,891 shares, a growth of 22.4% from the January 29th total of 1,556,957 shares. Currently, 5.3% of the shares of the stock are short sold. Based on an average trading volume of 332,364 shares, the short-interest ratio is currently 5.7 days. Based on an average trading volume of 332,364 shares, the short-interest ratio is currently 5.7 days. Currently, 5.3% of the shares of the stock are short sold.
Wall Street Analysts Forecast Growth
SD has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of SandRidge Energy in a research note on Monday, December 29th. Wall Street Zen upgraded SandRidge Energy from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, SandRidge Energy presently has a consensus rating of “Hold”.
Read Our Latest Analysis on SandRidge Energy
Institutional Trading of SandRidge Energy
Several hedge funds have recently made changes to their positions in SD. PNC Financial Services Group Inc. increased its stake in SandRidge Energy by 2,011.6% during the second quarter. PNC Financial Services Group Inc. now owns 3,632 shares of the oil and natural gas company’s stock worth $39,000 after acquiring an additional 3,460 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of SandRidge Energy by 92.8% in the second quarter. Tower Research Capital LLC TRC now owns 3,852 shares of the oil and natural gas company’s stock valued at $42,000 after purchasing an additional 1,854 shares during the period. CWM LLC increased its position in shares of SandRidge Energy by 2,109.1% during the second quarter. CWM LLC now owns 4,860 shares of the oil and natural gas company’s stock worth $53,000 after acquiring an additional 4,640 shares during the period. State of Alaska Department of Revenue raised its stake in shares of SandRidge Energy by 391.0% in the fourth quarter. State of Alaska Department of Revenue now owns 6,604 shares of the oil and natural gas company’s stock valued at $94,000 after acquiring an additional 5,259 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in SandRidge Energy by 11.1% in the third quarter. NewEdge Advisors LLC now owns 10,000 shares of the oil and natural gas company’s stock valued at $113,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 61.84% of the company’s stock.
SandRidge Energy Price Performance
NYSE SD traded up $0.26 during trading hours on Tuesday, hitting $17.85. 468,814 shares of the company’s stock traded hands, compared to its average volume of 317,961. The company has a market capitalization of $656.34 million, a PE ratio of 10.03 and a beta of 0.55. SandRidge Energy has a 52-week low of $8.81 and a 52-week high of $18.45. The firm’s 50-day moving average is $15.59 and its 200-day moving average is $13.61.
SandRidge Energy Company Profile
SandRidge Energy, Inc (NYSE: SD) is an independent exploration and production company focused on the development of onshore oil and natural gas resources in the United States. The company concentrates its operations primarily in the Anadarko Basin, applying horizontal drilling and multi-stage hydraulic fracturing techniques to exploit unconventional reservoirs. SandRidge’s asset portfolio includes both crude oil and natural gas liquids, complemented by associated gas production, with infrastructure investments designed to optimize midstream availability and enhance capital efficiency.
Founded in 2006 by industry veteran Tom L.