Hallador Energy Company (NASDAQ:HNRG) Short Interest Up 35.2% in March

Key Points

• Short interest rose 35.2% in March to 2,737,362 shares (about 7.6% of the stock) with a days-to-cover of 2.3, signaling increased bearish wagers on HNRG.
• Several analysts have turned more positive—B. Riley and Jefferies issued upgrades—and the stock carries a consensus rating of Moderate Buy with a consensus target price of $26.63.
• Hedge funds and institutions are active: Millennium Management boosted its stake by 1,233.6% to 486,532 shares, and institutional ownership stands at 61.38%.

Hallador Energy Company (NASDAQ:HNRG - Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 2,737,362 shares, a growth of 35.2% from the March 15th total of 2,025,059 shares. Based on an average daily volume of 1,191,206 shares, the days-to-cover ratio is currently 2.3 days. Approximately 7.6% of the company's stock are short sold.

Analysts Set New Price Targets

HNRG has been the subject of several analyst reports. B. Riley Financial upgraded Hallador Energy from a "neutral" rating to a "buy" rating and increased their price objective for the company from $23.00 to $27.00 in a report on Friday, March 13th. Zacks Research cut Hallador Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Hallador Energy in a report on Thursday, January 22nd. Northland Securities upped their price target on shares of Hallador Energy from $29.00 to $34.00 and gave the company an "outperform" rating in a research note on Thursday, March 26th. Finally, Jefferies Financial Group upgraded Hallador Energy from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Hallador Energy presently has an average rating of "Moderate Buy" and a consensus target price of $26.63.

Hedge Funds Weigh In On Hallador Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC raised its stake in shares of Hallador Energy by 1.9% during the 1st quarter. AQR Capital Management LLC now owns 103,534 shares of the energy company's stock worth $1,271,000 after buying an additional 1,950 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Hallador Energy by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,193 shares of the energy company's stock worth $187,000 after acquiring an additional 624 shares in the last quarter. Millennium Management LLC increased its holdings in Hallador Energy by 1,233.6% in the 1st quarter. Millennium Management LLC now owns 486,532 shares of the energy company's stock worth $5,975,000 after acquiring an additional 450,049 shares in the last quarter. Empowered Funds LLC raised its position in Hallador Energy by 5.5% during the first quarter. Empowered Funds LLC now owns 246,106 shares of the energy company's stock worth $3,022,000 after acquiring an additional 12,921 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in Hallador Energy during the first quarter valued at $807,000. Institutional investors and hedge funds own 61.38% of the company's stock.

Hallador Energy Stock Performance

NASDAQ HNRG traded up $0.73 on Wednesday, hitting $15.82. 801,883 shares of the company's stock traded hands, compared to its average volume of 918,467. The firm's 50-day moving average price is $17.76 and its two-hundred day moving average price is $19.18. The firm has a market capitalization of $743.86 million, a PE ratio of 16.48 and a beta of 0.27. The company has a current ratio of 0.81, a quick ratio of 0.23 and a debt-to-equity ratio of 0.19. Hallador Energy has a 1-year low of $13.10 and a 1-year high of $24.70.

Hallador Energy (NASDAQ:HNRG - Get Free Report) last issued its earnings results on Thursday, March 12th. The energy company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). Hallador Energy had a net margin of 8.92% and a return on equity of 30.82%. The firm had revenue of $101.94 million during the quarter, compared to analysts' expectations of $105.48 million. As a group, analysts expect that Hallador Energy will post -0.31 EPS for the current year.

Hallador Energy Company Profile

Hallador Energy Company is a coal producer and mine operator trading on NASDAQ under the symbol HNRG. The company's primary business activities center on the production and sale of bituminous thermal coal. Hallador's operations encompass two surface mines: the Shoal Creek Mine located in southwestern Indiana and the Bull Mountain Mine situated in eastern Montana. Both sites are designed to extract high-quality coal reserves for the power generation market.

Hallador Energy markets its coal primarily to electric utilities and industrial customers across the United States.

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