New Hope Co. Limited (OTCMKTS:NHPEF) Sees Significant Decrease in Short Interest

New Hope Co. Limited (OTCMKTS:NHPEF) was the target of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 5,804,400 shares, a drop of 23.4% from the February 13th total of 7,578,300 shares. Based on an average daily trading volume, of 4,400 shares, the days-to-cover ratio is currently 1,319.2 days.

New Hope Stock Performance

OTCMKTS:NHPEF traded up $0.05 during trading hours on Wednesday, reaching $2.40. The stock had a trading volume of 674 shares, compared to its average volume of 1,791. The stock has a 50 day simple moving average of $2.77 and a 200 day simple moving average of $3.03. New Hope has a 12-month low of $2.16 and a 12-month high of $3.65.

New Hope Company Profile

New Hope Corporation Limited explores for, develops, produces, and processes coal, and oil and gas properties. It operates through three segments: Coal Mining in Queensland, Coal Mining in New South Wales, and Other. The company holds interests in two open cut coal mines that produces thermal coal, which include the New Acland project located in Oakey, Queensland; and the Bengalla mine situated in the Hunter Valley region of New South Wales.