Brooge Energy Limited (NASDAQ:BROG) Sees Large Drop in Short Interest

Brooge Energy Limited (NASDAQ:BROG) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 127,300 shares, a decline of 17.6% from the July 15th total of 154,400 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 52,300 shares, the days-to-cover ratio is presently 2.4 days.

Brooge Energy Price Performance

Shares of NASDAQ BROG traded up $0.01 during trading on Friday, hitting $0.98. The company had a trading volume of 5,639 shares, compared to its average volume of 26,859. Brooge Energy has a 52 week low of $0.80 and a 52 week high of $6.66. The business’s 50-day moving average is $0.94 and its 200 day moving average is $1.49.

About Brooge Energy

Brooge Energy Limited, through its subsidiaries, provides oil storage and related services at the Port of Fujairah in the United Arab Emirates. It operates phase I and phase II facilities comprising 22 tanks with a capacity of approximately 1,001,388 cubic meters for offering storage, heating, and blending of fuel oil and clean petroleum products, including aviation fuel, gas oil, gasoline, marine gas oil, and naphtha.