Hallador Energy (NASDAQ:HNRG) Director David Hardie Sells 100,000 Shares

Key Points

• David Hardie, a director of Hallador Energy, sold 100,000 shares of the company at an average price of $19.53, totaling approximately $1.95 million, which represents a 68.46% decrease in his ownership.
• Hallador Energy reported a quarterly earnings per share of $0.19, exceeding analysts' expectations while achieving revenue of $102.89 million, surpassing the consensus estimate of $91.73 million.
• Institutional ownership of Hallador Energy stands at 61.38%, with several hedge funds increasing their positions significantly during the second quarter.

Hallador Energy Company (NASDAQ:HNRG - Get Free Report) Director David Hardie sold 100,000 shares of the stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $19.53, for a total transaction of $1,953,000.00. Following the completion of the transaction, the director directly owned 46,072 shares in the company, valued at $899,786.16. The trade was a 68.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Hallador Energy Price Performance

Hallador Energy stock traded up $0.38 during trading hours on Wednesday, reaching $19.95. 937,228 shares of the stock were exchanged, compared to its average volume of 556,723. The company has a market cap of $858.05 million, a P/E ratio of -4.00 and a beta of 0.39. The company has a current ratio of 0.67, a quick ratio of 0.26 and a debt-to-equity ratio of 0.25. Hallador Energy Company has a twelve month low of $8.13 and a twelve month high of $22.01. The stock has a 50 day moving average of $17.65 and a two-hundred day moving average of $16.00.

Hallador Energy (NASDAQ:HNRG - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The energy company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.34. Hallador Energy had a negative net margin of 46.61% and a positive return on equity of 11.58%. The company had revenue of $102.89 million for the quarter, compared to the consensus estimate of $91.73 million. Equities analysts expect that Hallador Energy Company will post -0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Hallador Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in shares of Hallador Energy in the second quarter worth approximately $27,000. EverSource Wealth Advisors LLC increased its position in shares of Hallador Energy by 11,110.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,130 shares of the energy company's stock worth $34,000 after purchasing an additional 2,111 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Hallador Energy by 68.0% during the second quarter. Ameritas Investment Partners Inc. now owns 3,169 shares of the energy company's stock valued at $50,000 after purchasing an additional 1,283 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Hallador Energy by 294.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,180 shares of the energy company's stock valued at $50,000 after purchasing an additional 2,374 shares during the period. Finally, Hilltop National Bank purchased a new stake in shares of Hallador Energy during the second quarter valued at approximately $71,000. 61.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on HNRG. Citigroup lowered shares of Hallador Energy to a "neutral" rating in a report on Tuesday, August 12th. B. Riley lowered shares of Hallador Energy from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $15.00 to $17.00 in a research note on Tuesday, August 12th. Wall Street Zen upgraded shares of Hallador Energy from a "hold" rating to a "buy" rating in a research note on Saturday, September 6th. Finally, Zacks Research upgraded shares of Hallador Energy to a "strong-buy" rating in a research note on Friday, September 12th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $19.00.

Hallador Energy Company Profile

Hallador Energy Company, through its subsidiaries, engages in the production of steam coal in the State of Indiana for the electric power generation industry. The company owns the Oaktown Mine 1 and Oaktown Mine 2 underground mines in Oaktown; Freelandville Center Pit surface mine in Freelandville; and Prosperity Surface mine in Petersburg, Indiana.

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