Pipestone Energy Corp. (OTCMKTS:BKBEF) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 14,700 shares, a drop of 67.5% from the November 30th total of 45,300 shares. Based on an average daily volume of 34,300 shares, the days-to-cover ratio is currently 0.4 days.
Shares of Pipestone Energy stock opened at $3.18 on Thursday. The stock has a 50-day moving average price of $2.86 and a 200 day moving average price of $2.15. Pipestone Energy has a 1 year low of $0.44 and a 1 year high of $3.34.
A number of research firms recently weighed in on BKBEF. BMO Capital Markets increased their price target on Pipestone Energy from C$3.50 to C$4.50 and gave the company an “outperform” rating in a research report on Thursday, November 11th. National Bankshares increased their price target on Pipestone Energy from C$4.00 to C$4.50 and gave the company a “sector perform” rating in a research report on Thursday, November 11th. Royal Bank of Canada increased their price target on Pipestone Energy from C$4.00 to C$5.00 and gave the company an “outperform” rating in a research report on Thursday, November 11th. Raymond James increased their price target on Pipestone Energy from C$4.00 to C$4.50 and gave the company an “outperform” rating in a research report on Thursday, November 11th. Finally, National Bank Financial increased their price objective on Pipestone Energy from C$3.25 to C$4.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 29th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $4.50.