Last Friday, the Gran Tierra Energy Inc (NYSEAMERICAN:GTE) stock was one of the significant movers and ended the day with gains of 15% amidst heavy interest. In light of the gains made by the stock on Friday, it is quite likely that it is going to be in focus today as well.
Trading Data
On Friday, GTE stock moved up 14.55% to $1.26 with 14.02 million share, compared to its average volume of 2.57 million shares. The stock moved within a range of $1.1200 – 1.2600 after opening trade at $1.12.
Gran Tierra Energy Inc. Announces 2021 Year-End Reserves
However, it ought to be pointed out that there was no news about the company on Friday that could have led to the rally. In fact, the last time there was any news about the company was back on January 25 and it could be the right time to take a look into it.
At the time, the oil exploration and production company announced the reserves it had at the end of 2021. The reserves had actually been evaluated by McDaniel & Associates Consultants Ltd, which is the independent qualified reserves aggregator for Gran Tierra.
The effective date on the report was December 31, 2021. However, it is unlikely that the rally in the stock on Friday was actually linked to that development. At this point in time, it may be a good idea for investors to keep an eye out on the news with regards to Gran Tierra.
Technical Data
GTE stock is trading above the 20-Day and 50-Day Moving averages of $1 and $0.84 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.74.
