Abraxas Petroleum Corp. (NASDAQ:AXAS)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.45 and traded as low as $0.21. Abraxas Petroleum shares last traded at $0.23, with a volume of 165,141 shares traded.
Several analysts recently issued reports on the company. Johnson Rice downgraded Abraxas Petroleum from a “buy” rating to an “accumulate” rating in a research note on Tuesday, November 19th. Zacks Investment Research raised shares of Abraxas Petroleum from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 22nd. ValuEngine upgraded shares of Abraxas Petroleum from a “strong sell” rating to a “sell” rating in a research report on Friday, January 3rd. Finally, Seaport Global Securities lowered shares of Abraxas Petroleum from a “buy” rating to a “neutral” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $1.00.
The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $38.41 million, a P/E ratio of 0.65 and a beta of 1.77. The company has a fifty day moving average price of $0.34 and a 200-day moving average price of $0.45.
Abraxas Petroleum (NASDAQ:AXAS) last released its quarterly earnings results on Wednesday, November 13th. The energy company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). Abraxas Petroleum had a net margin of 43.17% and a return on equity of 9.26%. The firm had revenue of $31.54 million for the quarter, compared to analysts’ expectations of $34.15 million. As a group, research analysts expect that Abraxas Petroleum Corp. will post 0.08 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of AXAS. Russell Investments Group Ltd. bought a new position in Abraxas Petroleum during the third quarter valued at $61,000. Susquehanna International Group LLP purchased a new stake in shares of Abraxas Petroleum during the 2nd quarter valued at about $67,000. Morgan Stanley raised its position in shares of Abraxas Petroleum by 52.8% during the 2nd quarter. Morgan Stanley now owns 74,752 shares of the energy company’s stock valued at $77,000 after buying an additional 25,817 shares in the last quarter. CWM LLC lifted its holdings in shares of Abraxas Petroleum by 59.7% in the 3rd quarter. CWM LLC now owns 420,266 shares of the energy company’s stock valued at $213,000 after acquiring an additional 157,152 shares during the last quarter. Finally, Monarch Partners Asset Management LLC lifted its holdings in shares of Abraxas Petroleum by 22.4% in the 3rd quarter. Monarch Partners Asset Management LLC now owns 472,592 shares of the energy company’s stock valued at $240,000 after acquiring an additional 86,640 shares during the last quarter. Hedge funds and other institutional investors own 45.62% of the company’s stock.
About Abraxas Petroleum (NASDAQ:AXAS)
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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