RGC Resources (NASDAQ:RGCO) Share Price Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• RGC Resources' share price has recently crossed above its 200-day moving average, indicating a potentially bullish trend, as the stock traded as high as $21.30.
• Wall Street Zen upgraded RGC Resources from a "hold" to a "buy" rating, reflecting positive analyst sentiment towards the company.
• The company reported quarterly earnings of $0.74 per share, surpassing analyst expectations of $0.68, and had a revenue of $36.46 million compared to estimates of $34 million.

RGC Resources Inc. (NASDAQ:RGCO - Get Free Report)'s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $21.13 and traded as high as $21.30. RGC Resources shares last traded at $20.92, with a volume of 7,862 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded RGC Resources from a "hold" rating to a "buy" rating in a report on Sunday, July 6th.

RGC Resources Price Performance

The company has a debt-to-equity ratio of 0.98, a current ratio of 0.57 and a quick ratio of 0.48. The stock has a market capitalization of $215.69 million, a price-to-earnings ratio of 16.34 and a beta of 0.46. The stock has a 50 day moving average price of $21.35 and a 200-day moving average price of $21.13.

RGC Resources (NASDAQ:RGCO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The energy company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.06. RGC Resources had a return on equity of 11.86% and a net margin of 14.50%. The company had revenue of $36.46 million for the quarter, compared to analyst estimates of $34.00 million. On average, analysts forecast that RGC Resources Inc. will post 1.23 earnings per share for the current year.

Hedge Funds Weigh In On RGC Resources

Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its holdings in RGC Resources by 293.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the energy company's stock valued at $26,000 after acquiring an additional 951 shares during the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of RGC Resources in the second quarter valued at approximately $59,000. GAMMA Investing LLC increased its holdings in shares of RGC Resources by 5,110.7% in the first quarter. GAMMA Investing LLC now owns 7,764 shares of the energy company's stock valued at $162,000 after purchasing an additional 7,615 shares during the last quarter. Wells Fargo & Company MN lifted its position in RGC Resources by 12.2% during the fourth quarter. Wells Fargo & Company MN now owns 9,719 shares of the energy company's stock worth $195,000 after buying an additional 1,055 shares in the last quarter. Finally, Deutsche Bank AG acquired a new position in RGC Resources during the fourth quarter worth $224,000. 35.77% of the stock is owned by hedge funds and other institutional investors.

RGC Resources Company Profile

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. It sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. The company also provides various unregulated services. It operates approximately 1,179 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates six metering stations.

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