Short Interest in Rice Energy Inc (NYSE:RICE) Drops By 52.6%

Rice Energy Inc (NYSE:RICE) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 5,255,176 shares, a decrease of 52.6% from the October 13th total of 11,082,322 shares. Based on an average trading volume of 8,405,339 shares, the days-to-cover ratio is presently 0.6 days. Currently, 2.4% of the shares of the stock are short sold.

Rice Energy (RICE) traded down $0.34 on Monday, hitting $29.32. The company had a trading volume of 26,809,102 shares, compared to its average volume of 5,313,636. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $6,690.00, a price-to-earnings ratio of 45.81 and a beta of 1.57. Rice Energy has a fifty-two week low of $18.30 and a fifty-two week high of $29.72.

Several research firms have issued reports on RICE. Royal Bank Of Canada reiterated a “hold” rating and issued a $27.00 price objective on shares of Rice Energy in a research report on Friday, September 29th. BidaskClub upgraded Rice Energy from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Stifel Nicolaus reissued a “hold” rating and issued a $27.00 target price on shares of Rice Energy in a report on Thursday, September 14th. Jefferies Group set a $26.00 target price on Rice Energy and gave the company a “hold” rating in a report on Thursday, October 5th. Finally, Scotiabank reissued a “hold” rating and issued a $27.00 target price on shares of Rice Energy in a report on Wednesday, October 4th. Nineteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $27.71.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Century Capital Management LLC boosted its stake in Rice Energy by 44.5% in the 2nd quarter. Century Capital Management LLC now owns 73,489 shares of the oil and gas producer’s stock worth $1,957,000 after buying an additional 22,617 shares during the last quarter. Rhumbline Advisers boosted its stake in Rice Energy by 13.5% in the 2nd quarter. Rhumbline Advisers now owns 171,669 shares of the oil and gas producer’s stock worth $4,572,000 after buying an additional 20,480 shares during the last quarter. Vanguard Group Inc. boosted its stake in Rice Energy by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 12,999,586 shares of the oil and gas producer’s stock worth $346,180,000 after buying an additional 297,124 shares during the last quarter. Kassirer Asset Management Corp acquired a new stake in Rice Energy in the 2nd quarter worth about $5,326,000. Finally, Omni Partners LLP acquired a new stake in Rice Energy in the 2nd quarter worth about $12,467,000. 87.22% of the stock is currently owned by institutional investors and hedge funds.

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Rice Energy Company Profile

Rice Energy Inc (Rice Energy) is an independent natural gas and oil company. The Company is engaged in the acquisition, exploration and development of natural gas, oil and natural gas liquids (NGL) properties in the Appalachian Basin. The Company conducts its operations through two segments: Exploration and Production, and Midstream.

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