Alpha Metallurgical Resources (NYSE:AMR) Shares Gap Down - Time to Sell?

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $118.79, but opened at $115.98. Alpha Metallurgical Resources shares last traded at $114.38, with a volume of 73,210 shares.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wall Street Zen cut Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. B. Riley lowered their price target on Alpha Metallurgical Resources from $183.00 to $181.00 and set a "buy" rating on the stock in a report on Thursday, May 15th. Finally, Jefferies Financial Group assumed coverage on Alpha Metallurgical Resources in a report on Tuesday, July 1st. They issued a "hold" rating and a $110.00 price target on the stock.

Alpha Metallurgical Resources Trading Down 2.7%

The company has a market capitalization of $1.51 billion, a PE ratio of 57.25 and a beta of 0.66. The stock has a fifty day moving average of $115.80 and a two-hundred day moving average of $143.09.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The energy company reported ($2.60) earnings per share for the quarter, missing analysts' consensus estimates of ($1.06) by ($1.54). The firm had revenue of $531.96 million for the quarter, compared to analysts' expectations of $586.15 million. Alpha Metallurgical Resources had a net margin of 1.01% and a return on equity of 1.62%. The business's quarterly revenue was down 38.4% on a year-over-year basis. During the same period in the prior year, the business posted $9.59 earnings per share. Equities analysts forecast that Alpha Metallurgical Resources, Inc. will post 14.31 EPS for the current year.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Hedge funds have recently made changes to their positions in the business. Signaturefd LLC increased its stake in shares of Alpha Metallurgical Resources by 306.1% during the first quarter. Signaturefd LLC now owns 199 shares of the energy company's stock valued at $25,000 after buying an additional 150 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of Alpha Metallurgical Resources during the fourth quarter valued at approximately $40,000. AdvisorNet Financial Inc increased its stake in shares of Alpha Metallurgical Resources by 214.3% during the first quarter. AdvisorNet Financial Inc now owns 220 shares of the energy company's stock valued at $28,000 after buying an additional 150 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Alpha Metallurgical Resources by 127.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 289 shares of the energy company's stock valued at $58,000 after buying an additional 162 shares during the period. Finally, Summit Securities Group LLC purchased a new position in shares of Alpha Metallurgical Resources during the first quarter valued at approximately $38,000. 84.29% of the stock is owned by hedge funds and other institutional investors.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc, a mining company, produces, processes, and sells met and thermal coal in Virginia and West Virginia. The company offers metallurgical coal products. It operates twenty-two active mines and nine coal preparation and load-out facilities. The company was formerly known as Contura Energy, Inc and changed its name to Alpha Metallurgical Resources, Inc in February 2021.