Erin Energy Corp (NYSE:ERN) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 1,241,411 shares, a decline of 3.4% from the August 15th total of 1,285,014 shares. Based on an average trading volume of 29,999 shares, the short-interest ratio is presently 41.4 days. Currently, 1.4% of the shares of the company are short sold.
Shares of Erin Energy Corp (NYSE ERN) opened at 3.95 on Wednesday. The company’s market cap is $842.37 million. Erin Energy Corp has a 12 month low of $1.15 and a 12 month high of $4.10. The stock’s 50 day moving average is $2.32 and its 200-day moving average is $2.10.
A hedge fund recently raised its stake in Erin Energy Corp stock. Goldman Sachs Group Inc. increased its holdings in shares of Erin Energy Corp (NYSE:ERN) by 106.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,389 shares of the company’s stock after purchasing an additional 69,354 shares during the period. Goldman Sachs Group Inc. owned approximately 0.06% of Erin Energy Corp worth $195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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About Erin Energy Corp
Erin Energy Corporation is an independent oil and gas exploration and production company. The Company is focused on energy resources in Africa. It is focused on exploration for and production of hydrocarbons where commercial reserves have been found and developed. As of December 31, 2016, the Company’s asset portfolio consisted of seven licenses across four countries covering an area of approximately five million acres (approximately 19,000 square kilometers).
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