Short Interest in Gastar Exploration Inc (GST) Drops By 2.9%
Gastar Exploration Inc (NYSE:GST) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 24,289,690 shares, a decrease of 2.9% from the August 15th total of 25,024,127 shares. Based on an average daily trading volume, of 1,711,928 shares, the days-to-cover ratio is presently 14.2 days. Approximately 12.3% of the company’s stock are sold short.
Gastar Exploration (GST) traded up 7.01% during midday trading on Tuesday, reaching $0.60. The company had a trading volume of 1,167,310 shares. The stock’s 50 day moving average is $0.69 and its 200 day moving average is $1.11. Gastar Exploration has a 12-month low of $0.38 and a 12-month high of $2.19. The firm’s market capitalization is $119.73 million.
Gastar Exploration (NYSE:GST) last posted its quarterly earnings data on Thursday, August 3rd. The company reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.01). The business had revenue of $22.60 million during the quarter, compared to analyst estimates of $18.78 million. During the same quarter in the prior year, the company posted ($0.12) earnings per share. The company’s revenue was up 85.2% on a year-over-year basis. Equities research analysts expect that Gastar Exploration will post ($0.17) earnings per share for the current year.
Several equities research analysts have recently commented on the company. Seaport Global Securities downgraded Gastar Exploration from a “buy” rating to a “neutral” rating and cut their price objective for the company from $3.00 to $1.00 in a report on Wednesday, June 21st. Zacks Investment Research downgraded Gastar Exploration from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 18th. Finally, Williams Capital set a $1.00 price objective on Gastar Exploration and gave the company a “hold” rating in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $1.50.
A number of hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN boosted its position in Gastar Exploration by 2.4% in the second quarter. Wells Fargo & Company MN now owns 254,924 shares of the company’s stock worth $236,000 after purchasing an additional 6,000 shares during the last quarter. Verition Fund Management LLC boosted its position in Gastar Exploration by 7.8% in the second quarter. Verition Fund Management LLC now owns 250,000 shares of the company’s stock worth $232,000 after purchasing an additional 18,107 shares during the last quarter. California Public Employees Retirement System boosted its position in Gastar Exploration by 1.9% in the second quarter. California Public Employees Retirement System now owns 2,653,900 shares of the company’s stock worth $2,458,000 after purchasing an additional 48,500 shares during the last quarter. Deprince Race & Zollo Inc. boosted its position in Gastar Exploration by 9.2% in the second quarter. Deprince Race & Zollo Inc. now owns 1,011,084 shares of the company’s stock worth $936,000 after purchasing an additional 85,100 shares during the last quarter. Finally, Rhumbline Advisers purchased a new position in Gastar Exploration in the second quarter worth $163,000.
About Gastar Exploration
Gastar Exploration Inc, an independent energy company, engages in the exploration, development, and production of oil, condensate, natural gas, and natural gas liquids in the United States. Its principal activities include the identification, acquisition, exploration, and development of oil and natural gas properties on unconventional reserves, such as shale resource plays.
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