Abraxas Petroleum Corporation (NASDAQ:AXAS) was the target of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 2,300,033 shares, a growth of 40.3% from the July 31st total of 1,639,797 shares. Based on an average trading volume of 1,048,910 shares, the days-to-cover ratio is presently 2.2 days. Approximately 1.5% of the shares of the stock are sold short.

A number of research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Abraxas Petroleum Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Stifel Nicolaus raised their target price on shares of Abraxas Petroleum Corporation from $2.40 to $2.60 and gave the company a “buy” rating in a research report on Thursday, May 25th. Seaport Global Securities lowered shares of Abraxas Petroleum Corporation from a “buy” rating to a “neutral” rating and cut their target price for the company from $3.25 to $2.00 in a research report on Wednesday, June 21st. BidaskClub lowered shares of Abraxas Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Canaccord Genuity restated a “buy” rating and issued a $3.00 target price on shares of Abraxas Petroleum Corporation in a research report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $2.61.

A number of large investors have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new stake in shares of Abraxas Petroleum Corporation during the second quarter valued at $109,000. Susquehanna International Group LLP boosted its stake in shares of Abraxas Petroleum Corporation by 73.0% in the second quarter. Susquehanna International Group LLP now owns 67,792 shares of the energy company’s stock valued at $110,000 after buying an additional 28,606 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of Abraxas Petroleum Corporation by 24.5% in the second quarter. Voya Investment Management LLC now owns 73,546 shares of the energy company’s stock valued at $119,000 after buying an additional 14,483 shares in the last quarter. Croft Leominster Inc. acquired a new stake in shares of Abraxas Petroleum Corporation during the first quarter valued at $143,000. Finally, First Quadrant L P CA acquired a new stake in shares of Abraxas Petroleum Corporation during the second quarter valued at $152,000. Institutional investors own 44.48% of the company’s stock.

Shares of Abraxas Petroleum Corporation (NASDAQ:AXAS) opened at 1.66 on Thursday. The firm has a 50-day moving average of $1.67 and a 200-day moving average of $1.87. Abraxas Petroleum Corporation has a 12 month low of $1.32 and a 12 month high of $2.99. The firm has a market cap of $269.51 million, a price-to-earnings ratio of 19.76 and a beta of 1.42.

Abraxas Petroleum Corporation (NASDAQ:AXAS) last announced its quarterly earnings results on Tuesday, August 8th. The energy company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by $0.01. Abraxas Petroleum Corporation had a return on equity of 7.68% and a net margin of 18.14%. The business had revenue of $13.15 million during the quarter, compared to the consensus estimate of $16.70 million. On average, analysts anticipate that Abraxas Petroleum Corporation will post $0.14 EPS for the current year.

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About Abraxas Petroleum Corporation

Abraxas Petroleum Corporation is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of oil and gas. As of December 31, 2016, the Company’s estimated net proved reserves were 44.7 million barrels of oil equivalent (MMBoe), of which 33.6% were classified as proved developed, 74% were oil and natural gas liquids (NGL), and 95% of which (on a PV-10 basis) were operated by the Company.

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