Hallador Energy (NASDAQ:HNRG) Shares Gap Up Following Strong Earnings

Hallador Energy (NASDAQ:HNRG)’s share price gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $15.19, but opened at $16.23. Hallador Energy shares last traded at $17.13, with a volume of 189,793 shares traded.

The energy company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.39. Hallador Energy had a negative return on equity of 6.71% and a negative net margin of 4.85%. The firm had revenue of $117.79 million during the quarter, compared to analysts’ expectations of $98.70 million.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. B. Riley lifted their price target on shares of Hallador Energy from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, April 1st. StockNews.com raised Hallador Energy from a “sell” rating to a “hold” rating in a research note on Tuesday.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pinnacle Holdings LLC lifted its position in Hallador Energy by 33.0% during the first quarter. Pinnacle Holdings LLC now owns 5,538 shares of the energy company’s stock worth $68,000 after acquiring an additional 1,373 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Hallador Energy by 23.5% during the fourth quarter. Legal & General Group Plc now owns 7,539 shares of the energy company’s stock worth $86,000 after buying an additional 1,435 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Hallador Energy during the fourth quarter worth $121,000. Quantinno Capital Management LP boosted its position in shares of Hallador Energy by 17.0% in the fourth quarter. Quantinno Capital Management LP now owns 11,915 shares of the energy company’s stock valued at $136,000 after acquiring an additional 1,729 shares during the period. Finally, Intech Investment Management LLC acquired a new position in shares of Hallador Energy in the fourth quarter valued at about $156,000. 61.38% of the stock is currently owned by institutional investors.

Hallador Energy Trading Up 21.4%

The business’s 50-day moving average is $12.97 and its 200 day moving average is $11.97. The firm has a market capitalization of $792.48 million, a P/E ratio of -33.53 and a beta of 0.42. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.58 and a quick ratio of 0.17.

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.