Short Interest in Alpha Natural Resources Expands By 7.9% (ANR)
Shares of Alpha Natural Resources (NYSE:ANR) were the target of a significant growth in short interest during the month of June. As of June 13th, there was short interest totalling 51,670,973 shares, a growth of 7.9% from the May 30th total of 47,878,495 shares, American Banking and Market News reports. Based on an average daily trading volume, of 8,118,838 shares, the days-to-cover ratio is currently 6.4 days. Currently, 23.8% of the shares of the company are sold short.
A number of analysts have recently weighed in on ANR shares. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Alpha Natural Resources in a research note on Monday, June 30th. They now have a $5.00 price target on the stock, down previously from $6.00. Separately, analysts at Jefferies Group cut their price target on shares of Alpha Natural Resources from $4.50 to $3.25 in a research note on Wednesday, June 4th. They now have a “hold” rating on the stock. Finally, analysts at Citigroup Inc. upgraded shares of Alpha Natural Resources from a “sell” rating to a “neutral” rating in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $7.30.
Alpha Natural Resources (NYSE:ANR) opened at 3.76 on Monday. Alpha Natural Resources has a 1-year low of $3.10 and a 1-year high of $8.30. The stock’s 50-day moving average is $3.66 and its 200-day moving average is $4.82. The company’s market cap is $832.3 million.
Alpha Natural Resources (NYSE:ANR) last announced its earnings results on Thursday, May 1st. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.58) by $0.65. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the company posted ($0.47) earnings per share. The company’s quarterly revenue was down 16.6% on a year-over-year basis. Analysts expect that Alpha Natural Resources will post $-2.80 EPS for the current fiscal year.
Alpha Natural Resources, Inc (NYSE:ANR) is a supplier and exporter of metallurgical coals for use in the steel-making process and a supplier of thermal coal to electric utilities and manufacturing industries, as well as a exporter of thermal coal.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.