Abraxas Petroleum Corp. (NASDAQ:AXAS) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 3,483,200 shares, a growth of 9.6% from the June 30th total of 3,178,800 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average daily volume of 987,900 shares, the short-interest ratio is presently 3.5 days.

Several institutional investors have recently added to or reduced their stakes in AXAS. Dimensional Fund Advisors LP raised its stake in shares of Abraxas Petroleum by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,554,853 shares of the energy company’s stock valued at $6,055,000 after acquiring an additional 253,765 shares during the period. Geode Capital Management LLC raised its stake in shares of Abraxas Petroleum by 16.8% in the 4th quarter. Geode Capital Management LLC now owns 1,934,314 shares of the energy company’s stock valued at $2,108,000 after acquiring an additional 278,116 shares during the period. Bank of America Corp DE raised its stake in shares of Abraxas Petroleum by 29.4% in the 4th quarter. Bank of America Corp DE now owns 104,021 shares of the energy company’s stock valued at $114,000 after acquiring an additional 23,616 shares during the period. Jane Street Group LLC raised its stake in shares of Abraxas Petroleum by 660.6% in the 4th quarter. Jane Street Group LLC now owns 164,659 shares of the energy company’s stock valued at $179,000 after acquiring an additional 143,011 shares during the period. Finally, Amalgamated Bank purchased a new stake in shares of Abraxas Petroleum in the 4th quarter valued at approximately $26,000. 52.66% of the stock is currently owned by institutional investors and hedge funds.

AXAS has been the topic of a number of analyst reports. ValuEngine downgraded shares of Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a research note on Monday, April 29th. Zacks Investment Research raised shares of Abraxas Petroleum from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Seaport Global Securities reaffirmed a “buy” rating on shares of Abraxas Petroleum in a research note on Friday, June 21st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $3.25.

AXAS stock traded down $0.06 during trading on Wednesday, reaching $0.54. 15,511 shares of the stock were exchanged, compared to its average volume of 1,014,644. The stock has a 50 day simple moving average of $0.92. The stock has a market cap of $101.63 million, a price-to-earnings ratio of 3.00 and a beta of 1.67. Abraxas Petroleum has a 1 year low of $0.59 and a 1 year high of $2.57. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 1.28.

Abraxas Petroleum (NASDAQ:AXAS) last released its quarterly earnings results on Wednesday, August 7th. The energy company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The company had revenue of $34.82 million during the quarter, compared to analysts’ expectations of $33.00 million. Abraxas Petroleum had a net margin of 29.82% and a return on equity of 13.98%. Sell-side analysts expect that Abraxas Petroleum will post 0.17 EPS for the current fiscal year.

Abraxas Petroleum Company Profile

Abraxas Petroleum Corporation, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of oil and gas properties in the United States. The company operates oil and gas assets in the Permian/Delaware Basin, the Rocky Mountain, and South Texas regions.

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