Avance Gas Holding Ltd (OTCMKTS:AVACF) Short Interest Up 71.0% in May

Avance Gas Holding Ltd (OTCMKTS:AVACF – Get Rating) was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 5,300 shares, an increase of 71.0% from the April 30th total of 3,100 shares. Based on an average daily volume of 12,800 shares, the days-to-cover ratio is currently 0.4 days.

Avance Gas Price Performance

AVACF traded up $0.30 during midday trading on Friday, reaching $7.77. 669 shares of the company were exchanged, compared to its average volume of 7,903. Avance Gas has a one year low of $4.50 and a one year high of $8.11. The stock’s 50-day simple moving average is $6.83 and its 200 day simple moving average is $6.64.

Analysts Set New Price Targets

Separately, Pareto Securities upgraded Avance Gas from a “hold” rating to a “buy” rating in a report on Friday.

About Avance Gas

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Avance Gas Holding Ltd. engages in the operation and transportation of liquefied petroleum gas. It also owns and operates a fleet consisting of the following gas carriers: Avance, Iris Glory, Thetis Glory, Venus Glory, Providence, and Promise. The company was founded by Christian Styrman Andersen in September 2007 and is headquartered in Hamilton, Bermuda.