Abraxas Petroleum Corp. Sees Significant Growth in Short Interest (AXAS)
Abraxas Petroleum Corp. (NASDAQ:AXAS) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 8,910,233 shares, a growth of 90.6% from the June 13th total of 4,673,831 shares, ARN reports. Approximately 9.2% of the company’s stock are sold short. Based on an average daily volume of 5,560,991 shares, the short-interest ratio is currently 1.6 days.
Several analysts have recently commented on the stock. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Abraxas Petroleum Corp. in a research note on Wednesday, July 2nd. They now have a $7.00 price target on the stock, up previously from $6.00. Finally, 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Abraxas Petroleum Corp. presently has a consensus rating of “Hold” and an average target price of $5.49.
Abraxas Petroleum Corp. (NASDAQ:AXAS) opened at 5.97 on Tuesday. Abraxas Petroleum Corp. has a 1-year low of $2.33 and a 1-year high of $6.45. The stock has a 50-day moving average of $5.55 and a 200-day moving average of $4.34. The company has a market cap of $552.8 million and a P/E ratio of 13.03.
Abraxas Petroleum Corp. (NASDAQ:AXAS) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the 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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