Hallador Energy (NASDAQ:HNRG) Shares Gap Up Following Strong Earnings

Key Points

• Hallador Energy's shares experienced a significant increase after reporting quarterly earnings of $0.19 per share, exceeding analysts' expectations of ($0.15).
• Despite the recent earnings surge, the stock price decreased by 6.5% following mixed analyst ratings, with some downgrading the stock to "neutral" and others issuing a "strong buy" rating.
• Insider trading activity involved Director David C. Hardie selling 97,837 shares for approximately $1.86 million, which represents a 41.29% reduction in his ownership stake.

Hallador Energy Company (NASDAQ:HNRG - Get Free Report)'s stock price gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $19.62, but opened at $22.01. Hallador Energy shares last traded at $18.73, with a volume of 377,686 shares traded.

The energy company reported $0.19 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.34. The business had revenue of $102.89 million for the quarter, compared to analyst estimates of $91.73 million. Hallador Energy had a positive return on equity of 11.58% and a negative net margin of 46.61%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HNRG shares. B. Riley lowered shares of Hallador Energy from a "buy" rating to a "neutral" rating and raised their target price for the company from $15.00 to $17.00 in a research report on Tuesday. Citigroup downgraded Hallador Energy to a "neutral" rating in a report on Tuesday. Wall Street Zen cut Hallador Energy from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Northland Securities assumed coverage on Hallador Energy in a research report on Monday, May 19th. They issued an "outperform" rating and a $23.00 target price for the company. Finally, Northland Capmk raised Hallador Energy to a "strong-buy" rating in a research note on Monday, May 19th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $19.00.

Insider Transactions at Hallador Energy

In other Hallador Energy news, Director David C. Hardie sold 97,837 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $19.05, for a total value of $1,863,794.85. Following the sale, the director owned 139,089 shares in the company, valued at approximately $2,649,645.45. The trade was a 41.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 23.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hallador Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in HNRG. EverSource Wealth Advisors LLC increased its position in Hallador Energy by 11,110.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,130 shares of the energy company's stock valued at $34,000 after purchasing an additional 2,111 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in Hallador Energy by 68.0% in the second 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 during the period. Pinnacle Holdings LLC boosted its position in Hallador Energy by 33.0% during the first quarter. Pinnacle Holdings LLC now owns 5,538 shares of the energy company's stock valued at $68,000 after acquiring an additional 1,373 shares during the last quarter. Hilltop National Bank acquired a new stake in Hallador Energy during the 2nd quarter worth about $71,000. Finally, Legal & General Group Plc raised its position in shares of Hallador Energy by 23.5% in the 4th quarter. Legal & General Group Plc now owns 7,539 shares of the energy company's stock worth $86,000 after acquiring an additional 1,435 shares in the last quarter. 61.38% of the stock is owned by institutional investors and hedge funds.

Hallador Energy Trading Down 4.8%

The firm has a 50-day moving average of $16.53 and a 200 day moving average of $14.27. The company has a market cap of $727.73 million, a P/E ratio of -3.39 and a beta of 0.52. The company has a current ratio of 0.67, a quick ratio of 0.17 and a debt-to-equity ratio of 0.25.

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.