Abraxas Petroleum Corp. (NASDAQ:AXAS) was the target of a large 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 short sold. Based on an average trading volume of 987,900 shares, the short-interest ratio is currently 3.5 days.
Shares of AXAS stock opened at $0.47 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market capitalization of $104.63 million, a P/E ratio of 2.60 and a beta of 1.67. The company has a 50 day moving average price of $0.90 and a 200 day moving average price of $1.14. Abraxas Petroleum has a fifty-two week low of $0.43 and a fifty-two week high of $2.57.
Abraxas Petroleum (NASDAQ:AXAS) last announced its quarterly earnings data on Wednesday, August 7th. The energy company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $34.82 million during the quarter, compared to analyst estimates of $33.00 million. Abraxas Petroleum had a net margin of 29.82% and a return on equity of 13.98%. On average, research analysts forecast that Abraxas Petroleum will post 0.17 EPS for the current fiscal year.
AXAS has been the topic of a number of research analyst reports. Seaport Global Securities reissued a “buy” rating on shares of Abraxas Petroleum in a research note on Friday, June 21st. ValuEngine cut shares of Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a report on Monday, April 29th. Finally, Zacks Investment Research upgraded shares of Abraxas Petroleum from a “sell” rating to a “hold” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $3.25.
Several hedge funds have recently made changes to their positions in the stock. Amalgamated Bank acquired a new position in Abraxas Petroleum during the 4th quarter worth approximately $26,000. Mckinley Capital Management LLC Delaware grew its holdings in Abraxas Petroleum by 108.4% during the 1st quarter. Mckinley Capital Management LLC Delaware now owns 20,915 shares of the energy company’s stock worth $27,000 after acquiring an additional 10,877 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in Abraxas Petroleum during the 2nd quarter worth approximately $40,000. BNP Paribas Arbitrage SA grew its holdings in Abraxas Petroleum by 57,277.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 33,279 shares of the energy company’s stock worth $42,000 after acquiring an additional 33,221 shares in the last quarter. Finally, Cornerstone Investment Partners LLC grew its holdings in Abraxas Petroleum by 55.7% during the 1st quarter. Cornerstone Investment Partners LLC now owns 47,638 shares of the energy company’s stock worth $60,000 after acquiring an additional 17,035 shares in the last quarter. Hedge funds and other institutional investors own 52.66% of the company’s stock.
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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