Archaea Energy Inc. (NYSE:LFG) Short Interest Up 23.4% in May

Archaea Energy Inc. (NYSE:LFGGet Rating) was the target of a large growth in short interest in May. As of May 31st, there was short interest totalling 3,590,000 shares, a growth of 23.4% from the May 15th total of 2,910,000 shares. Approximately 4.6% of the company’s shares are short sold. Based on an average daily volume of 1,290,000 shares, the short-interest ratio is presently 2.8 days.

A number of brokerages have commented on LFG. Stifel Nicolaus initiated coverage on Archaea Energy in a research note on Monday, March 7th. They set a “buy” rating and a $37.00 price objective on the stock. Barclays assumed coverage on Archaea Energy in a research report on Friday. They set an “overweight” rating and a $26.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $28.80.

In other Archaea Energy news, Director Renewable Energy Systems Aria sold 14,942,643 shares of Archaea Energy stock in a transaction that occurred on Friday, March 25th. The shares were sold at an average price of $17.04, for a total transaction of $254,622,636.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 36.74% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in LFG. Ovata Capital Management Ltd bought a new position in shares of Archaea Energy during the first quarter worth about $26,000. Royal Bank of Canada lifted its holdings in Archaea Energy by 5.9% during the 1st quarter. Royal Bank of Canada now owns 26,735 shares of the company’s stock worth $586,000 after buying an additional 1,485 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Archaea Energy by 11.7% in the 1st quarter. Principal Financial Group Inc. now owns 14,980 shares of the company’s stock worth $329,000 after acquiring an additional 1,570 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in shares of Archaea Energy in the 1st quarter valued at approximately $64,000. Finally, Wade G W & Inc. raised its position in shares of Archaea Energy by 19.6% during the 4th quarter. Wade G W & Inc. now owns 23,630 shares of the company’s stock valued at $432,000 after acquiring an additional 3,880 shares in the last quarter. 55.87% of the stock is owned by institutional investors and hedge funds.

NYSE:LFG opened at $19.58 on Friday. The firm has a 50-day moving average of $20.57 and a two-hundred day moving average of $19.23. Archaea Energy has a 1-year low of $14.30 and a 1-year high of $23.75.

Archaea Energy (NYSE:LFGGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.08. The business had revenue of $56.90 million during the quarter, compared to analysts’ expectations of $65.80 million. Archaea Energy’s quarterly revenue was up 3456.3% compared to the same quarter last year. As a group, sell-side analysts expect that Archaea Energy will post 0.63 earnings per share for the current fiscal year.

About Archaea Energy (Get Rating)

Archaea Energy Inc operates as a renewable natural gas (RNG) and renewable electricity producer in the United States. It owns and operates a diversified portfolio of 23 landfill gas recovery and processing projects across 12 states, including 13 projects that collectively generate approximately 177.3 MW of electric capacity and 10 projects that have capacity to produce approximately 27,480 million of British thermal units per day of pipeline-quality RNG.

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