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

Hallador Energy (NASDAQ:HNRG)’s stock price gapped up prior to trading 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 trading hands.

The energy company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.14. The firm had revenue of $105.04 million during the quarter, compared to analysts’ expectations of $117.10 million. Hallador Energy had a negative net margin of 4.85% and a negative return on equity of 6.88%. During the same period in the previous year, the company earned $0.47 earnings per share.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on HNRG shares. StockNews.com cut shares of Hallador Energy from a “hold” rating to a “sell” rating in a research note on Sunday, August 18th. B. Riley boosted their price target on Hallador Energy from $9.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday.

Insiders Place Their Bets

In other Hallador Energy news, Director Zarrell Thomas Gray acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were purchased at an average price of $5.75 per share, with a total value of $28,750.00. Following the completion of the acquisition, the director now directly owns 33,000 shares of the company’s stock, valued at approximately $189,750. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Charles Ray Iv Wesley acquired 25,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $5.97 per share, for a total transaction of $149,250.00. Following the transaction, the director now owns 184,302 shares in the company, valued at $1,100,282.94. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Zarrell Thomas Gray bought 5,000 shares of Hallador Energy stock in a transaction on Thursday, August 22nd. The stock was purchased at an average price of $5.75 per share, for a total transaction of $28,750.00. Following the completion of the acquisition, the director now owns 33,000 shares in the company, valued at $189,750. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 51,000 shares of company stock worth $308,840. 32.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Hallador Energy

A number of institutional investors have recently modified their holdings of HNRG. Empyrean Capital Partners LP purchased a new position in shares of Hallador Energy in the 2nd quarter worth about $3,885,000. B. Riley Wealth Advisors Inc. raised its holdings in Hallador Energy by 3,171.7% in the second quarter. B. Riley Wealth Advisors Inc. now owns 376,250 shares of the energy company’s stock valued at $2,923,000 after buying an additional 364,750 shares during the period. Point72 Asset Management L.P. acquired a new position in Hallador Energy during the second quarter valued at approximately $2,197,000. ClariVest Asset Management LLC purchased a new stake in Hallador Energy during the second quarter worth approximately $735,000. Finally, Pekin Hardy Strauss Inc. acquired a new stake in shares of Hallador Energy in the second quarter worth $584,000. Institutional investors and hedge funds own 61.38% of the company’s stock.

Hallador Energy Stock Performance

The company has a current ratio of 0.53, a quick ratio of 0.16 and a debt-to-equity ratio of 0.11. The firm has a market cap of $559.34 million, a PE ratio of -21.31 and a beta of 0.62. The stock’s 50 day moving average price is $8.89 and its 200 day moving average price is $7.70.

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.