Aristides Capital LLC Invests $248,000 in Gran Tierra Energy Inc. (NYSE:GTE)

Aristides Capital LLC bought a new position in Gran Tierra Energy Inc. (NYSE:GTE) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 25,613 shares of the company’s stock, valued at approximately $248,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sanders Morris Harris LLC purchased a new stake in shares of Gran Tierra Energy during the first quarter worth about $85,000. Quadrature Capital Ltd bought a new position in shares of Gran Tierra Energy in the fourth quarter worth about $151,000. Hillsdale Investment Management Inc. purchased a new position in shares of Gran Tierra Energy during the first quarter valued at about $203,000. Quest Partners LLC bought a new position in shares of Gran Tierra Energy in the 2nd quarter valued at about $465,000. Finally, Intact Investment Management Inc. bought a new position in Gran Tierra Energy during the second quarter valued at $696,000. Hedge funds and other institutional investors own 31.70% of the company’s stock.

Insider Transactions at Gran Tierra Energy

In related news, CEO Gary Guidry bought 40,000 shares of the stock in a transaction dated Thursday, September 19th. The stock was acquired at an average price of $6.11 per share, for a total transaction of $244,400.00. Following the acquisition, the chief executive officer now owns 525,672 shares in the company, valued at approximately $3,211,855.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 6.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Gran Tierra Energy from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 5th.

Gran Tierra Energy Stock Up 1.8 %

Shares of GTE opened at $6.27 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 0.75 and a debt-to-equity ratio of 1.38. The business has a 50-day moving average of $7.43. Gran Tierra Energy Inc. has a 52 week low of $4.72 and a 52 week high of $10.40. The stock has a market capitalization of $196.45 million, a P/E ratio of 62.70 and a beta of 1.56.

Gran Tierra Energy (NYSE:GTE) last issued its earnings results on Wednesday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter. The business had revenue of $165.61 million during the quarter. Gran Tierra Energy had a return on equity of 12.60% and a net margin of 7.68%.

Gran Tierra Energy Company Profile

Gran Tierra Energy Inc, together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia and Ecuador. The company was founded in 2003 and is headquartered in Calgary, Canada.