Headwater Exploration Inc. (OTCMKTS:CDDRF) Short Interest Up 23.3% in October

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

Shares of OTCMKTS CDDRF traded up $0.08 during trading on Friday, reaching $4.90. The stock had a trading volume of 136,023 shares, compared to its average volume of 20,695. The firm’s 50 day moving average price is $4.84 and its two-hundred day moving average price is $5.10. Headwater Exploration has a one year low of $4.30 and a one year high of $6.26.

Headwater Exploration Cuts Dividend

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

About Headwater Exploration

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.