Abraxas Petroleum Corp. (NASDAQ:AXAS) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totalling 3,483,200 shares, an increase of 9.6% from the June 30th total of 3,178,800 shares. Based on an average trading volume of 987,900 shares, the short-interest ratio is presently 3.5 days. Currently, 2.2% of the shares of the company are sold short.
A number of hedge funds have recently added to or reduced their stakes in AXAS. Wasatch Advisors Inc. boosted its holdings in Abraxas Petroleum by 98.4% during the first quarter. Wasatch Advisors Inc. now owns 2,544,099 shares of the energy company’s stock worth $3,180,000 after buying an additional 1,261,814 shares in the last quarter. Heartland Advisors Inc. boosted its holdings in Abraxas Petroleum by 47.8% during the second quarter. Heartland Advisors Inc. now owns 3,555,200 shares of the energy company’s stock worth $3,662,000 after buying an additional 1,150,200 shares in the last quarter. Deutsche Bank AG boosted its holdings in Abraxas Petroleum by 297.5% during the fourth quarter. Deutsche Bank AG now owns 1,271,270 shares of the energy company’s stock worth $1,383,000 after buying an additional 951,493 shares in the last quarter. Walthausen & Co. LLC boosted its holdings in Abraxas Petroleum by 62.5% during the first quarter. Walthausen & Co. LLC now owns 905,510 shares of the energy company’s stock worth $1,132,000 after buying an additional 348,230 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new stake in Abraxas Petroleum during the first quarter worth about $356,000. 52.66% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Abraxas Petroleum from a “sell” rating to a “hold” rating in a report on Monday. Seaport Global Securities reaffirmed a “buy” rating on shares of Abraxas Petroleum in a report on Friday, June 21st. Finally, ValuEngine downgraded shares of Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a report on Monday, April 29th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $3.25.
AXAS stock traded down $0.04 during trading on Thursday, reaching $0.46. 56,236 shares of the company were exchanged, compared to its average volume of 935,569. The stock has a market cap of $104.63 million, a P/E ratio of 2.67 and a beta of 1.67. Abraxas Petroleum has a 52-week low of $0.50 and a 52-week high of $2.57. The firm’s 50 day moving average is $0.91. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 1.28.
Abraxas Petroleum (NASDAQ:AXAS) last released its quarterly earnings data on Wednesday, August 7th. The energy company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The company had revenue of $34.82 million for the quarter, compared to analysts’ expectations of $33.00 million. Abraxas Petroleum had a return on equity of 13.98% and a net margin of 29.82%. Equities analysts expect that Abraxas Petroleum will post 0.17 earnings per share 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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