Arch Coal Short Interest Up 11.5% in June (ACI)
Shares of Arch Coal (NYSE:ACI) saw a large growth in short interest in June. As of June 13th, there was short interest totalling 34,755,939 shares, a growth of 11.5% from the May 30th total of 31,184,431 shares, AmericanBankingNews.com reports. Currently, 16.5% of the shares of the company are short sold. Based on an average daily volume of 6,352,570 shares, the days-to-cover ratio is presently 5.5 days.
A number of analysts have recently weighed in on ACI shares. Analysts at Zacks reiterated a “neutral” rating on shares of Arch Coal in a research note on Friday, June 6th. They now have a $3.50 price target on the stock. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Arch Coal in a research note on Wednesday, June 4th. They now have a $3.25 price target on the stock, down previously from $5.00. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $4.52.
Shares of Arch Coal (NYSE:ACI) opened at 3.62 on Monday. Arch Coal has a 1-year low of $3.15 and a 1-year high of $5.37. The stock has a 50-day moving average of $3.64 and a 200-day moving average of $4.21. The company’s market cap is $768.5 million.
Arch Coal (NYSE:ACI) last released its earnings data on Tuesday, April 22nd. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by $0.18. The company had revenue of $736.00 million for the quarter, compared to the consensus estimate of $718.03 million. During the same quarter in the previous year, the company posted ($0.34) earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. Analysts expect that Arch Coal will post $-1.90 EPS for the current fiscal year.
Arch Coal, Inc (NYSE:ACI) is the coal producer.
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