Gastar Exploration Inc (GST) Short Interest Update
Gastar Exploration Inc (NYSE:GST) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 24,289,690 shares, a drop of 2.9% from the August 15th total of 25,024,127 shares. Based on an average daily volume of 1,711,928 shares, the short-interest ratio is presently 14.2 days. Currently, 12.3% of the company’s stock are short sold.
Shares of Gastar Exploration (NYSE:GST) opened at 0.6522 on Friday. The company’s market capitalization is $130.14 million. The firm’s 50-day moving average is $0.66 and its 200-day moving average is $1.09. Gastar Exploration has a 12-month low of $0.38 and a 12-month high of $2.19.
Gastar Exploration (NYSE:GST) last posted its quarterly earnings results on Thursday, August 3rd. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The business had revenue of $22.60 million for the quarter, compared to analysts’ expectations of $18.78 million. The business’s quarterly revenue was up 85.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.12) earnings per share. On average, equities analysts predict that Gastar Exploration will post ($0.17) EPS for the current year.
A number of research analysts have recently commented on the stock. Seaport Global Securities downgraded shares of Gastar Exploration from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $3.00 to $1.00 in a research report on Wednesday, June 21st. Zacks Investment Research cut shares of Gastar Exploration from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 18th. Finally, Williams Capital set a $1.00 price objective on shares of Gastar Exploration and gave the stock a “hold” rating in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $1.50.
Institutional investors have recently modified their holdings of the company. Deprince Race & Zollo Inc. grew its holdings in shares of Gastar Exploration by 9.2% in the second quarter. Deprince Race & Zollo Inc. now owns 1,011,084 shares of the company’s stock worth $936,000 after purchasing an additional 85,100 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Gastar Exploration by 439.9% in the second quarter. Bank of New York Mellon Corp now owns 599,986 shares of the company’s stock worth $555,000 after purchasing an additional 488,849 shares during the last quarter. Rhumbline Advisers bought a new position in shares of Gastar Exploration in the second quarter worth approximately $163,000. Schwab Charles Investment Management Inc. grew its holdings in shares of Gastar Exploration by 124.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 540,300 shares of the company’s stock worth $501,000 after purchasing an additional 300,000 shares during the last quarter. Finally, California State Teachers Retirement System bought a new position in shares of Gastar Exploration in the second quarter worth approximately $286,000.
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Gastar Exploration Company Profile
Gastar Exploration Inc, an independent energy company, engages in the exploration, development, and production of oil, condensate, natural gas, and natural gas liquids in the United States. Its principal activities include the identification, acquisition, exploration, and development of oil and natural gas properties on unconventional reserves, such as shale resource plays.
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