Abraxas Petroleum Corp. (NASDAQ:AXAS)’s stock price rose 6% during mid-day trading on Monday . The company traded as high as $0.55 and last traded at $0.53, approximately 965,601 shares traded hands during trading. A decline of 8% from the average daily volume of 1,044,855 shares. The stock had previously closed at $0.50.

A number of equities analysts have commented on the company. Zacks Investment Research raised Abraxas Petroleum from a “sell” rating to a “hold” rating in a report on Monday, August 12th. LADENBURG THALM/SH SH downgraded Abraxas Petroleum from a “buy” rating to a “neutral” rating and cut their target price for the company from $2.00 to $1.00 in a research report on Monday, August 26th. Finally, Seaport Global Securities reissued a “buy” rating on shares of Abraxas Petroleum in a report on Friday, June 21st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Abraxas Petroleum presently has a consensus rating of “Hold” and an average price target of $2.00.

The firm’s fifty day simple moving average is $0.62 and its 200 day simple moving average is $1.06. The stock has a market capitalization of $95.06 million, a P/E ratio of 2.92 and a beta of 1.73. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.47 and a current ratio of 0.47.

Abraxas Petroleum (NASDAQ:AXAS) last issued its quarterly earnings results on Wednesday, August 7th. The energy company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.02). The firm had revenue of $34.82 million for the quarter, compared to the consensus estimate of $33.00 million. Abraxas Petroleum had a return on equity of 13.62% and a net margin of 29.82%. Analysts anticipate that Abraxas Petroleum Corp. will post 0.15 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA lifted its stake in Abraxas Petroleum by 57,277.6% during the first quarter. BNP Paribas Arbitrage SA now owns 33,279 shares of the energy company’s stock worth $42,000 after purchasing an additional 33,221 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new position in shares of Abraxas Petroleum in the 2nd quarter valued at $40,000. Susquehanna International Group LLP bought a new position in Abraxas Petroleum in the second quarter valued at about $67,000. Spark Investment Management LLC acquired a new stake in shares of Abraxas Petroleum during the first quarter valued at about $93,000. Finally, Morgan Stanley boosted its stake in shares of Abraxas Petroleum by 52.8% during the second quarter. Morgan Stanley now owns 74,752 shares of the energy company’s stock valued at $77,000 after purchasing an additional 25,817 shares in the last quarter. Institutional investors and hedge funds own 51.38% of the company’s stock.

Abraxas Petroleum Company Profile (NASDAQ:AXAS)

Abraxas Petroleum Corporation, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of oil and gas properties in the United States. The company operates oil and gas assets in the Permian/Delaware Basin, the Rocky Mountain, and South Texas regions.

Further Reading: Understanding Average Daily Trade Volume

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