Hallador Energy (NASDAQ:HNRG) Shares Gap Up Following Better-Than-Expected Earnings

Hallador Energy (NASDAQ:HNRG) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $10.45, but opened at $12.68. Hallador Energy shares last traded at $12.02, with a volume of 571,292 shares.

The energy company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.14. Hallador Energy had a negative return on equity of 6.88% and a negative net margin of 4.85%. The firm had revenue of $105.04 million during the quarter, compared to analyst estimates of $117.10 million. During the same quarter in the prior year, the company posted $0.47 earnings per share.

Analyst Ratings Changes

Several analysts have issued reports on HNRG shares. B. Riley increased their target price on Hallador Energy from $9.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com cut Hallador Energy from a “hold” rating to a “sell” rating in a research report on Sunday, August 18th.

Insider Activity

In other Hallador Energy news, Director Zarrell Thomas Gray purchased 5,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were bought at an average cost of $5.75 per share, for a total transaction of $28,750.00. Following the completion of the purchase, the director now directly owns 33,000 shares in the company, valued at approximately $189,750. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Zarrell Thomas Gray purchased 5,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were purchased at an average price of $5.75 per share, with a total value of $28,750.00. Following the completion of the acquisition, the director now directly owns 33,000 shares in the company, valued at $189,750. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles Ray Iv Wesley acquired 25,000 shares of the stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $5.97 per share, for a total transaction of $149,250.00. Following the acquisition, the director now directly owns 184,302 shares in the company, valued at $1,100,282.94. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 51,000 shares of company stock worth $308,840. Corporate insiders own 32.30% of the company’s stock.

Institutional Trading of Hallador Energy

Institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC raised its stake in Hallador Energy by 10.1% during the first quarter. Janney Montgomery Scott LLC now owns 53,172 shares of the energy company’s stock worth $283,000 after acquiring an additional 4,887 shares during the period. Empowered Funds LLC boosted its holdings in Hallador Energy by 8.1% during the first quarter. Empowered Funds LLC now owns 195,521 shares of the energy company’s stock worth $1,042,000 after buying an additional 14,700 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Hallador Energy by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 183,683 shares of the energy company’s stock worth $1,427,000 after buying an additional 3,017 shares in the last quarter. Rhumbline Advisers lifted its position in Hallador Energy by 16.1% in the 2nd quarter. Rhumbline Advisers now owns 37,757 shares of the energy company’s stock worth $293,000 after buying an additional 5,241 shares in the last quarter. Finally, ClariVest Asset Management LLC acquired a new position in shares of Hallador Energy during the 2nd quarter worth $735,000. 61.38% of the stock is owned by hedge funds and other institutional investors.

Hallador Energy Stock Up 18.2 %

The business’s 50 day moving average is $8.89 and its 200-day moving average is $7.70. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.16 and a current ratio of 0.53. The firm has a market capitalization of $526.11 million, a price-to-earnings ratio of -21.31 and a beta of 0.62.

About Hallador Energy

Hallador Energy Company, through its subsidiaries, engages in the production of steam coal in the State of Indiana for the electric power generation industry. The company owns the Oaktown Mine 1 and Oaktown Mine 2 underground mines in Oaktown; Freelandville Center Pit surface mine in Freelandville; and Prosperity Surface mine in Petersburg, Indiana.