Tamboran Resources Corp (NYSE:TBN) Short Interest Update

Tamboran Resources Corp (NYSE:TBN) saw a large drop in short interest in December. As of December 15th, there was short interest totalling 39,000 shares, a drop of 14.7% from the November 30th total of 45,700 shares. Based on an average daily trading volume, of 15,900 shares, the short-interest ratio is currently 2.5 days. Approximately 0.4% of the company’s stock are sold short.

Hedge Funds Weigh In On Tamboran Resources

A number of hedge funds have recently bought and sold shares of the business. Edge Capital Group LLC bought a new stake in shares of Tamboran Resources in the second quarter worth approximately $4,687,000. HITE Hedge Asset Management LLC purchased a new stake in Tamboran Resources during the 2nd quarter valued at $6,750,000. Encompass Capital Advisors LLC bought a new position in shares of Tamboran Resources during the 2nd quarter valued at $4,687,000. The Manufacturers Life Insurance Company purchased a new position in shares of Tamboran Resources in the 3rd quarter worth $1,930,000. Finally, Baupost Group LLC MA bought a new stake in shares of Tamboran Resources in the third quarter worth $11,599,000.

Tamboran Resources Price Performance

Tamboran Resources stock opened at $18.73 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.59 and a quick ratio of 2.59. Tamboran Resources has a 12 month low of $15.75 and a 12 month high of $25.99. The business has a fifty day simple moving average of $18.01.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TBN shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $31.00 target price on shares of Tamboran Resources in a research note on Tuesday, November 19th. Piper Sandler reissued an “overweight” rating and set a $41.00 price objective on shares of Tamboran Resources in a research report on Monday, December 23rd.

Tamboran Resources Company Profile

Tamboran Resources Corporation, a natural gas company, focuses on developing unconventional gas resources in the northern territory of Australia. Its assets include a 25% non-operated working interest in EP 161; a 38.75% working interest in EPs 76, 98, and 117; and a 100% working interest in EPs 136 and 143, as well as EP (A) 197, located in the Betaloo Basin.