Alpha Metallurgical Resources, Inc. (NYSE:AMR) Short Interest Update

Key Points

• Short interest in Alpha Metallurgical Resources, Inc. decreased by 29.2% in August, with 1,090,000 shares sold short, representing 10.0% of the company's total shares.
• Wall Street analysts have upgraded the stock, with a target price increase from $110.00 to $150.00 by Jefferies Financial Group, and it currently holds a consensus rating of "Hold" with an average target price of $160.50.
• Alpha Metallurgical reported a loss of ($0.38) EPS for its last quarter, significantly outperforming estimates, despite a 31.6% year-over-year decline in revenue.

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) was the target of a large drop in short interest in August. As of August 15th, there was short interest totaling 1,090,000 shares, a drop of 29.2% from the July 31st total of 1,540,000 shares. Currently, 10.0% of the company's stock are short sold. Based on an average daily volume of 395,800 shares, the days-to-cover ratio is presently 2.8 days. Based on an average daily volume of 395,800 shares, the days-to-cover ratio is presently 2.8 days. Currently, 10.0% of the company's stock are short sold.

Alpha Metallurgical Resources Trading Up 0.7%

NYSE AMR traded up $0.99 during trading hours on Friday, hitting $143.11. 243,469 shares of the company's stock traded hands, compared to its average volume of 319,194. The business's fifty day moving average price is $134.72 and its two-hundred day moving average price is $125.38. The firm has a market capitalization of $1.87 billion, a P/E ratio of -50.21 and a beta of 0.64. Alpha Metallurgical Resources has a 52 week low of $97.41 and a 52 week high of $255.04.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last announced its earnings results on Friday, August 8th. The energy company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.38) by $2.00. The company had revenue of $550.27 million during the quarter, compared to analyst estimates of $552.15 million. Alpha Metallurgical Resources had a negative net margin of 1.57% and a negative return on equity of 2.28%. The firm's quarterly revenue was down 31.6% compared to the same quarter last year. During the same period in the previous year, the business posted $4.49 earnings per share. On average, sell-side analysts expect that Alpha Metallurgical Resources will post 14.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMR. Jefferies Financial Group lifted their price target on shares of Alpha Metallurgical Resources from $110.00 to $150.00 and gave the stock a "hold" rating in a research note on Monday, August 11th. Wall Street Zen upgraded shares of Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, B. Riley reduced their price target on shares of Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating for the company in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $160.50.

Insider Transactions at Alpha Metallurgical Resources

In other news, CFO Joshua Todd Munsey sold 2,135 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $157.00, for a total value of $335,195.00. Following the completion of the sale, the chief financial officer directly owned 4,466 shares in the company, valued at $701,162. The trade was a 32.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jason E. Whitehead sold 12,004 shares of Alpha Metallurgical Resources stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $161.84, for a total transaction of $1,942,727.36. Following the completion of the sale, the chief operating officer owned 9,673 shares of the company's stock, valued at $1,565,478.32. This represents a 55.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.00% of the stock is currently owned by company insiders.

Institutional Trading of Alpha Metallurgical Resources

Large investors have recently added to or reduced their stakes in the business. Signaturefd LLC grew its position in Alpha Metallurgical Resources by 306.1% during the first quarter. Signaturefd LLC now owns 199 shares of the energy company's stock valued at $25,000 after buying an additional 150 shares during the period. AdvisorNet Financial Inc lifted its holdings in Alpha Metallurgical Resources by 214.3% during the first quarter. AdvisorNet Financial Inc now owns 220 shares of the energy company's stock valued at $28,000 after purchasing an additional 150 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Alpha Metallurgical Resources in the first quarter worth $38,000. Public Employees Retirement System of Ohio bought a new stake in shares of Alpha Metallurgical Resources during the 4th quarter valued at $60,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Alpha Metallurgical Resources during the 1st quarter valued at $64,000. 84.29% of the stock is currently owned by institutional investors.

Alpha Metallurgical Resources Company Profile

Alpha Metallurgical Resources, Inc, a mining company, produces, processes, and sells met and thermal coal in Virginia and West Virginia. The company offers metallurgical coal products. It operates twenty-two active mines and nine coal preparation and load-out facilities. The company was formerly known as Contura Energy, Inc and changed its name to Alpha Metallurgical Resources, Inc in February 2021.