Hallador Energy (NASDAQ:HNRG) Shares Gap Up After 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 before the market opened 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.

Specifically, Director Charles Ray Iv Wesley purchased 20,000 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price of $15.27 per share, with a total value of $305,400.00. Following the acquisition, 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 document filed with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

HNRG has been the subject of several analyst reports. Wall Street Zen downgraded shares of Hallador Energy from a "buy" rating to a "hold" rating in a report on Saturday. Citigroup lowered shares of Hallador Energy to a "neutral" rating in a research note on Tuesday, August 12th. Northland Capmk upgraded shares of Hallador Energy to a "strong-buy" rating in a research report on Monday, May 19th. B. Riley lowered shares of Hallador Energy from a "buy" rating to a "neutral" rating and raised their price target for the company from $15.00 to $17.00 in a research note on Tuesday, August 12th. Finally, Northland Securities initiated coverage on Hallador Energy in a research report on Monday, May 19th. They set an "outperform" rating and a $23.00 price objective for the company. One equities research 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's stock. According to MarketBeat.com, Hallador Energy presently has an average rating of "Moderate Buy" and an average price target of $19.00.

Hallador Energy Trading Up 1.4%

The company has a quick ratio of 0.26, a current ratio of 0.67 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $655.52 million, a P/E ratio of -3.05 and a beta of 0.52. The firm's 50-day simple moving average is $16.48 and its 200 day simple moving average is $14.46.

Hallador Energy (NASDAQ:HNRG - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The energy company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $91.73 million. Equities research analysts anticipate that Hallador Energy Company will post -0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Hallador Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. acquired a new position in shares of Hallador Energy in the 2nd quarter worth $18,735,000. Point72 Asset Management L.P. boosted its position in shares of Hallador Energy by 4,460.2% in the 4th quarter. Point72 Asset Management L.P. now owns 1,097,500 shares of the energy company's stock valued at $12,566,000 after purchasing an additional 1,073,433 shares during the period. CenterBook Partners LP increased its stake in Hallador Energy by 2,371.9% in the 2nd quarter. CenterBook Partners LP now owns 786,671 shares of the energy company's stock worth $12,453,000 after purchasing an additional 754,846 shares in the last quarter. Empyrean Capital Partners LP increased its stake in Hallador Energy by 71.0% in the 4th quarter. Empyrean Capital Partners LP now owns 1,325,000 shares of the energy company's stock worth $15,171,000 after purchasing an additional 550,000 shares in the last quarter. Finally, Apis Capital Advisors LLC raised its holdings in Hallador Energy by 106.9% during the 4th quarter. Apis Capital Advisors LLC now owns 898,000 shares of the energy company's stock worth $10,282,000 after buying an additional 464,000 shares during the period. Institutional investors and hedge funds own 61.38% of the company's stock.

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.

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