Approach Resources Inc. (NASDAQ:AREX) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $1.40 and last traded at $1.42, with a volume of 2642 shares. The stock had previously closed at $1.52.

A number of equities research analysts have issued reports on the company. Zacks Investment Research upgraded Approach Resources from a “sell” rating to a “hold” rating in a research note on Monday, November 5th. KLR Group reiterated a “hold” rating and issued a $3.00 price target on shares of Approach Resources in a research note on Monday, August 20th. Six investment analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average price target of $2.75.

The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $151.21 million, a PE ratio of -4.06 and a beta of 2.72.

Approach Resources (NASDAQ:AREX) last issued its quarterly earnings results on Thursday, November 8th. The energy company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.06. Approach Resources had a negative return on equity of 4.04% and a net margin of 20.85%. The business had revenue of $32.56 million during the quarter, compared to analyst estimates of $30.07 million. Analysts expect that Approach Resources Inc. will post -0.32 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. Bridgeway Capital Management Inc. increased its stake in Approach Resources by 4.4% in the 3rd quarter. Bridgeway Capital Management Inc. now owns 1,008,400 shares of the energy company’s stock worth $2,249,000 after buying an additional 42,600 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Approach Resources by 49.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 265,861 shares of the energy company’s stock valued at $649,000 after purchasing an additional 88,295 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Approach Resources by 83.1% during the 2nd quarter. GSA Capital Partners LLP now owns 200,306 shares of the energy company’s stock valued at $489,000 after purchasing an additional 90,900 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Approach Resources by 11.5% during the 2nd quarter. BlackRock Inc. now owns 3,504,971 shares of the energy company’s stock valued at $8,551,000 after purchasing an additional 361,169 shares during the last quarter. Institutional investors and hedge funds own 75.40% of the company’s stock.

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Approach Resources Company Profile (NASDAQ:AREX)

Approach Resources, Inc, an independent energy company, focuses on the acquisition, exploration, development, and production of unconventional oil and gas reserves in the United States. The company's properties are primarily located in the Permian Basin in west Texas. It also owns interests in east Texas Basin.

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