Short Interest in Headwater Exploration Inc. (OTCMKTS:CDDRF) Expands By 23.3%

Headwater Exploration Inc. (OTCMKTS:CDDRF) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 2,478,700 shares, a growth of 23.3% from the October 15th total of 2,011,100 shares. Based on an average daily trading volume, of 83,500 shares, the short-interest ratio is presently 29.7 days.

Analyst Upgrades and Downgrades

Separately, Raymond James began coverage on Headwater Exploration in a research report on Friday, October 18th. They issued a “market perform” rating and a $8.50 target price on the stock.

Headwater Exploration Stock Performance

Shares of OTCMKTS:CDDRF traded up $0.03 during midday trading on Friday, hitting $4.82. 32,257 shares of the company’s stock traded hands, compared to its average volume of 20,159. Headwater Exploration has a twelve month low of $4.30 and a twelve month high of $6.26. The firm’s fifty day moving average price is $4.84 and its two-hundred day moving average price is $5.10.

Headwater Exploration Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.0724 per share. The ex-dividend date was Friday, September 27th. This represents a yield of 5.96%.

Headwater Exploration Company Profile

Headwater Exploration Inc engages in the exploration, development, and production of petroleum and natural gas in Canada. It holds interest in the Marten Hills area located in Alberta, and McCully Field area located in New Brunswick. The company was formerly known as Corridor Resources Inc and changed its name to Headwater Exploration Inc in March 2020.