Short Interest in U.S. Energy Corp. (NASDAQ:USEG) Drops By 61.4%

U.S. Energy Corp. (NASDAQ:USEG) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 43,200 shares, a drop of 61.4% from the October 15th total of 111,800 shares. Based on an average daily volume of 113,000 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of U.S. Energy in a research note on Monday. They set a “sell” rating on the stock.

U.S. Energy Stock Performance

Shares of USEG stock traded up $0.07 on Friday, reaching $1.67. The stock had a trading volume of 271,335 shares, compared to its average volume of 81,306. The stock has a market cap of $46.70 million, a P/E ratio of -1.27 and a beta of 0.47. U.S. Energy has a 1 year low of $0.81 and a 1 year high of $1.73. The company has a 50 day simple moving average of $1.28 and a 200 day simple moving average of $1.12.

About U.S. Energy

U.S. Energy Corp., an independent energy company, focuses on the acquisition, exploration, and development of oil and natural gas properties in the United States. It holds interests in various oil and gas properties located in the Rockies region, including Montana, Wyoming, and North Dakota; the Mid-Continent region comprising Oklahoma, Kansas, and North and East Texas; West Texas; South Texas; and the Gulf Coast regions.