Hallador Energy (NASDAQ:HNRG) Shares Gap Up Following Insider Buying Activity

Key Points

• Hallador Energy's stock price opened at $15.77, up from a previous close of $15.03, following significant insider buying by Director Charles Ray Iv Wesley, who purchased 20,000 shares at an average price of $15.27.
• Analyst ratings for Hallador Energy have varied, with Wall Street Zen and Citigroup downgrading the stock to "hold" and "neutral," respectively, while Northland Capital Markets maintains a "strong-buy" rating with a price target of $23.00.
• The company's recent quarterly earnings reported an EPS of $0.19, surpassing expectations of a loss, accompanied by revenue of $102.89 million, exceeding the anticipated $91.73 million.

Hallador Energy Company (NASDAQ:HNRG - Get Free Report)'s stock price gapped up prior to trading on Wednesday following insider buying activity. The stock had previously closed at $15.03, but opened at $15.77. Hallador Energy shares last traded at $15.45, with a volume of 148,779 shares changing hands.

Specifically, Director Charles Ray Iv Wesley purchased 20,000 shares of Hallador Energy stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $15.27 per share, with a total value of $305,400.00. Following the completion of the transaction, the director owned 234,914 shares in the company, valued at approximately $3,587,136.78. This trade represents a 9.31% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

Several equities analysts recently issued reports on HNRG shares. Northland Capmk raised Hallador Energy to a "strong-buy" rating in a research report on Monday, May 19th. Wall Street Zen lowered shares of Hallador Energy from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. B. Riley lowered shares of Hallador Energy from a "buy" rating to a "neutral" rating and upped their price target for the company from $15.00 to $17.00 in a report on Tuesday, August 12th. Citigroup lowered shares of Hallador Energy to a "neutral" rating in a report on Tuesday, August 12th. Finally, Northland Securities assumed coverage on shares of Hallador Energy in a report on Monday, May 19th. They issued an "outperform" rating and a $23.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Hallador Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

Hallador Energy Price Performance

The stock has a market capitalization of $700.63 million, a PE ratio of -3.26 and a beta of 0.52. The stock's 50 day moving average is $16.46 and its two-hundred day moving average is $14.59. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.26 and a current ratio of 0.67.

Hallador Energy (NASDAQ:HNRG - Get Free Report) last issued 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. The firm had revenue of $102.89 million for the quarter, compared to analyst estimates of $91.73 million. Hallador Energy had a negative net margin of 46.61% and a positive return on equity of 11.58%. On average, equities analysts anticipate that Hallador Energy Company will post -0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

About Hallador Energy

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.