Short Interest in Arch Resources, Inc. (NYSE:ARCH) Grows By 5.7%

Arch Resources, Inc. (NYSE:ARCH) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totalling 1,490,000 shares, a growth of 5.7% from the September 30th total of 1,410,000 shares. Based on an average trading volume of 414,100 shares, the short-interest ratio is currently 3.6 days.

Arch Resources Price Performance

Shares of ARCH opened at $143.96 on Friday. The company has a 50 day moving average of $135.30 and a two-hundred day moving average of $147.65. The company has a quick ratio of 1.77, a current ratio of 2.54 and a debt-to-equity ratio of 0.07. Arch Resources has a twelve month low of $116.44 and a twelve month high of $187.60. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 10.45 and a beta of 0.60.

Analyst Ratings Changes

A number of brokerages recently commented on ARCH. Benchmark reaffirmed a “buy” rating and issued a $180.00 price target on shares of Arch Resources in a report on Friday, July 26th. StockNews.com began coverage on Arch Resources in a report on Saturday, October 26th. They issued a “hold” rating for the company. Finally, B. Riley decreased their price target on Arch Resources from $198.00 to $188.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $175.75.

Insider Activity

In other Arch Resources news, VP Deck Slone sold 253 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $144.75, for a total transaction of $36,621.75. Following the completion of the sale, the vice president now directly owns 29,120 shares of the company’s stock, valued at $4,215,120. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Arch Resources

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Financial Strategies Group Inc. raised its holdings in shares of Arch Resources by 49.7% during the third quarter. Financial Strategies Group Inc. now owns 2,734 shares of the energy company’s stock worth $399,000 after purchasing an additional 908 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Arch Resources by 17.7% in the third quarter. Janney Montgomery Scott LLC now owns 18,390 shares of the energy company’s stock worth $2,541,000 after acquiring an additional 2,760 shares during the period. FCG Investment Co acquired a new position in shares of Arch Resources in the third quarter worth about $1,005,000. Jade Capital Advisors LLC purchased a new stake in shares of Arch Resources during the 3rd quarter worth about $691,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Arch Resources by 437.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 62,433 shares of the energy company’s stock valued at $8,626,000 after acquiring an additional 50,819 shares during the period. 88.14% of the stock is currently owned by institutional investors and hedge funds.

Arch Resources Company Profile

Arch Resources, Inc engages in the production and sale of metallurgical products. It operates in two segments, Metallurgical and Thermal. The company operates active mines. It owned or controlled primarily through long-term leases of coal land in Ohio, Maryland, Virginia, West Virginia, Wyoming, Kentucky, Montana, Pennsylvania, Colorado, and Illinois; and smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.