Hallador Energy (NASDAQ:HNRG) Shares Gap Up After Better-Than-Expected Earnings

Hallador Energy (NASDAQ:HNRG) gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $10.45, but opened at $12.68. Hallador Energy shares last traded at $12.02, with a volume of 571,292 shares traded.

The energy company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.14. The business had revenue of $105.04 million for the quarter, compared to analyst estimates of $117.10 million. Hallador Energy had a negative return on equity of 6.88% and a negative net margin of 4.85%. During the same quarter last year, the company earned $0.47 EPS.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. StockNews.com lowered Hallador Energy from a “hold” rating to a “sell” rating in a research report on Sunday, August 18th. B. Riley lifted their price target on Hallador Energy from $9.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday.

Insider Activity

In related news, Director Zarrell Thomas Gray bought 14,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were acquired at an average price of $6.36 per share, with a total value of $89,040.00. Following the completion of the acquisition, the director now owns 47,000 shares in the company, valued at approximately $298,920. This trade represents a 42.42 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles Ray Iv Wesley bought 25,000 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $5.97 per share, for a total transaction of $149,250.00. Following the acquisition, the director now owns 184,302 shares of the company’s stock, valued at approximately $1,100,282.94. This trade represents a 15.69 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 46,000 shares of company stock valued at $280,040. Company insiders own 32.30% of the company’s stock.

Institutional Trading of Hallador Energy

A number of institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its stake in shares of Hallador Energy by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 183,683 shares of the energy company’s stock valued at $1,427,000 after buying an additional 3,017 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Hallador Energy by 66.4% in the third quarter. Exchange Traded Concepts LLC now owns 10,357 shares of the energy company’s stock valued at $98,000 after buying an additional 4,132 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Hallador Energy by 10.1% in the first quarter. Janney Montgomery Scott LLC now owns 53,172 shares of the energy company’s stock valued at $283,000 after buying an additional 4,887 shares in the last quarter. CWM LLC boosted its stake in shares of Hallador Energy by 154.4% in the third quarter. CWM LLC now owns 8,227 shares of the energy company’s stock valued at $78,000 after buying an additional 4,993 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Hallador Energy by 16.1% in the second quarter. Rhumbline Advisers now owns 37,757 shares of the energy company’s stock valued at $293,000 after buying an additional 5,241 shares in the last quarter. 61.38% of the stock is currently owned by hedge funds and other institutional investors.

Hallador Energy Stock Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 0.53 and a quick ratio of 0.16. The stock has a market capitalization of $569.99 million, a PE ratio of -24.36 and a beta of 0.62. The stock has a 50 day moving average of $9.03 and a two-hundred day moving average of $7.74.

About Hallador Energy

Hallador Energy Company, through its subsidiaries, engages in the production of steam coal in the State of Indiana for the electric power generation industry. The company owns the Oaktown Mine 1 and Oaktown Mine 2 underground mines in Oaktown; Freelandville Center Pit surface mine in Freelandville; and Prosperity Surface mine in Petersburg, Indiana.