Alpha Metallurgical Resources (NYSE:AMR) Trading Up 5% - Here's What Happened

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report)'s stock price was up 5% on Friday . The stock traded as high as $106.00 and last traded at $104.79. Approximately 222,032 shares changed hands during mid-day trading, a decline of 10% from the average daily volume of 247,563 shares. The stock had previously closed at $99.77.

Analyst Ratings Changes

Several equities analysts recently weighed in on AMR shares. Wall Street Zen cut shares of Alpha Metallurgical Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. B. Riley decreased their target price on shares of Alpha Metallurgical Resources from $183.00 to $181.00 and set a "buy" rating for the company in a research note on Thursday, May 15th.

Alpha Metallurgical Resources Price Performance

The stock's 50-day simple moving average is $116.79 and its 200 day simple moving average is $145.37. The stock has a market capitalization of $1.47 billion, a P/E ratio of 55.88 and a beta of 0.68.

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

Hedge Funds Weigh In On Alpha Metallurgical Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dalal Street LLC boosted its position in Alpha Metallurgical Resources by 1.6% during the fourth quarter. Dalal Street LLC now owns 487,251 shares of the energy company's stock worth $97,509,000 after purchasing an additional 7,553 shares during the period. Ruffer LLP bought a new stake in shares of Alpha Metallurgical Resources in the fourth quarter valued at about $4,100,000. GAMMA Investing LLC boosted its position in shares of Alpha Metallurgical Resources by 11,100.3% in the first quarter. GAMMA Investing LLC now owns 34,945 shares of the energy company's stock valued at $4,377,000 after acquiring an additional 34,633 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Alpha Metallurgical Resources in the fourth quarter valued at about $3,564,000. Finally, Sei Investments Co. boosted its position in shares of Alpha Metallurgical Resources by 36.8% in the fourth quarter. Sei Investments Co. now owns 10,786 shares of the energy company's stock valued at $2,158,000 after acquiring an additional 2,903 shares during the period. 84.29% of the stock is owned by 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.