Abraxas Petroleum Corp. Sees Large Growth in Short Interest (AXAS)
Abraxas Petroleum Corp. (NASDAQ:AXAS) saw a significant increase in short interest in the month of June. As of June 13th, there was short interest totalling 4,673,831 shares, an increase of 35.8% from the May 30th total of 3,442,478 shares, Analyst Ratings Network.com reports. Based on an average trading volume of 2,567,166 shares, the days-to-cover ratio is currently 1.8 days. Approximately 4.8% of the company’s shares are sold short.
A number of analysts have recently weighed in on AXAS shares. Analysts at Canaccord Genuity raised their price target on shares of Abraxas Petroleum Corp. from $5.75 to $6.00 in a research note on Friday, June 20th. They now have a “buy” rating on the stock. Separately, analysts at SunTrust raised their price target on shares of Abraxas Petroleum Corp. from $6.00 to $6.50 in a research note on Thursday, June 19th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.33.
Shares of Abraxas Petroleum Corp. (NASDAQ:AXAS) opened at 6.28 on Wednesday. Abraxas Petroleum Corp. has a 1-year low of $2.03 and a 1-year high of $6.45. The stock’s 50-day moving average is $5.28 and its 200-day moving average is $4.18. The company has a market cap of $581.5 million and a P/E ratio of 13.94.
Abraxas Petroleum Corp. (NASDAQ:AXAS) last released its earnings data on Thursday, May 8th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.06 by $0.01. The company had revenue of $25.90 million for the quarter, compared to the consensus estimate of $24.03 million. Analysts expect that Abraxas Petroleum Corp. will post $0.43 EPS for the current fiscal year.
Abraxas Petroleum Corporation is an independent energy company primarily engaged in the acquisition, exploitation, development and production of oil and gas in the United States and Canada.
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