Hallador Energy Co. (HNRG) Sees Significant Drop in Short Interest
Hallador Energy Co. (NASDAQ:HNRG) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 411,955 shares, a decrease of 53.2% from the August 15th total of 880,250 shares. Based on an average trading volume of 143,528 shares, the short-interest ratio is presently 2.9 days. Approximately 2.1% of the shares of the company are short sold.
Separately, Zacks Investment Research upgraded shares of Hallador Energy from a “hold” rating to a “strong-buy” rating and set a $6.50 price target for the company in a report on Thursday, August 11th.
Shares of Hallador Energy (NASDAQ:HNRG) opened at 7.57 on Wednesday. Hallador Energy has a 12-month low of $3.95 and a 12-month high of $7.94. The company has a market capitalization of $221.42 million, a PE ratio of 11.98 and a beta of 0.08. The firm’s 50-day moving average is $6.26 and its 200-day moving average is $5.07.
In other Hallador Energy news, insider Brent K. Bilsland sold 123,586 shares of the company’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $7.12, for a total transaction of $879,932.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 55.66% of the company’s stock.
Several large investors have recently modified their holdings of the company. S&CO Inc. bought a new stake in shares of Hallador Energy during the second quarter worth approximately $102,000. Hamilton Lane Advisors LLC bought a new stake in shares of Hallador Energy during the second quarter worth approximately $136,000. Eagle Global Advisors LLC raised its stake in shares of Hallador Energy by 114.2% in the second quarter. Eagle Global Advisors LLC now owns 35,070 shares of the company’s stock worth $162,000 after buying an additional 18,700 shares during the last quarter. Spark Investment Management LLC bought a new stake in shares of Hallador Energy during the first quarter worth approximately $167,000. Finally, Confluence Investment Management LLC bought a new stake in shares of Hallador Energy during the second quarter worth approximately $177,000. Institutional investors and hedge funds own 51.73% of the company’s stock.
Hallador Energy Company Profile
Hallador Energy Company is an oil and gas exploration company focused on developing coal reserves in the Illinois Basin. The Company, through its subsidiary, Sunrise Coal, LLC, is engaged in coal mining in the state of Indiana serving the electric power generation industry. Its projects include Carlisle Mine, Ace in the Hole Mine, Oaktown 1 Mine, Oaktown 2 Mine and Bulldog Mine.
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