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Shares of Arch Coal (NYSE:ACI) were the target of a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 35,599,572 shares, a drop of 6.7% from the July 15th total of 38,146,011 shares, reports. Currently, 16.9% of the company’s shares are sold short. Based on an average daily volume of 6,626,817 shares, the short-interest ratio is presently 5.4 days.

Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Arch Coal in a research note on Thursday, July 31st. They now have a $3.00 price target on the stock. Separately, analysts at Howard Weil cut their price target on shares of Arch Coal from $6.00 to $5.00 in a research note on Monday, July 21st. They now have a “sector perform” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Arch Coal in a research note on Monday, July 14th. They now have a $3.80 price target on the stock, down previously from $4.70. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $4.36.

Arch Coal (NYSE:ACI) opened at 3.21 on Tuesday. Arch Coal has a 52 week low of $2.82 and a 52 week high of $5.37. The stock’s 50-day moving average is $3.16 and its 200-day moving average is $3.94. The company’s market cap is $681.4 million.

Arch Coal (NYSE:ACI) last issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.46) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.49) by $0.03. The company had revenue of $714.00 million for the quarter, compared to the consensus estimate of $720.04 million. During the same quarter in the prior year, the company posted ($0.29) earnings per share. The company’s quarterly revenue was down 6.9% on a year-over-year basis. Analysts expect that Arch Coal will post $-1.86 EPS for the current fiscal year.

Arch Coal, Inc (NYSE:ACI) is the coal producer.

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