Equatorial Energia S.A. experienced a significant decline in short interest, according to recent data. As of December 15, 2023, the short interest totaled only 1,797 shares, marking a decrease of 23.5% from the 2,348 shares reported on November 30, 2023. This decline suggests a shift in market sentiment regarding the company’s stock, which trades under the symbol EQUEY on the OTC market.
The days-to-cover ratio currently stands at 1.3 days, based on an average daily trading volume of 1,418 shares. This ratio indicates the number of days it would take for short sellers to buy back the shares they have sold short, reflecting a relatively low pressure on the stock.
Equatorial Energia’s Stock Performance
On Tuesday, shares of Equatorial Energia opened at $7.03, representing a 3.7% increase. The stock has shown volatility over the past year, with a 12-month low of $4.03 and a 12-month high of $7.79. The company’s fifty-day simple moving average is currently $7.00, while the two-hundred-day average is $6.73.
Equatorial Energia, headquartered in São Luís, Maranhão, is a Brazilian energy holding company that has established itself as a major electricity distributor in northern Brazil. Founded in 1998, the company has expanded its reach through strategic acquisitions and concession awards, now serving over eight million customers across eight Brazilian states, including Maranhão, Pará, Piauí, and Amazonas.
The company’s core operations focus on the distribution of electric power, which constitutes the bulk of its business activities. As Equatorial Energia continues to navigate the energy market, recent changes in short interest may indicate a more favorable outlook from investors.
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