MEG Energy Corp. (OTCMKTS:MEGEF) Sees Large Growth in Short Interest

MEG Energy Corp. (OTCMKTS:MEGEF) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 8,136,200 shares, an increase of 23.1% from the May 31st total of 6,612,000 shares. Based on an average daily volume of 127,600 shares, the short-interest ratio is presently 63.8 days.

MEG Energy Stock Performance

MEGEF traded up $0.02 on Tuesday, reaching $21.40. 1,690 shares of the stock were exchanged, compared to its average volume of 212,960. The company’s 50-day moving average price is $21.75 and its 200 day moving average price is $20.67. MEG Energy has a fifty-two week low of $15.17 and a fifty-two week high of $24.59.

MEG Energy Company Profile

MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in its Christina Lake Project in the southern Athabasca oil region of Alberta, Canada. The company develops oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the recovery of oil, as well as lower carbon emissions.