Zacks Research Downgrades Hallador Energy (NASDAQ:HNRG) to Strong Sell

Hallador Energy (NASDAQ:HNRG) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Northland Securities set a $28.00 price target on shares of Hallador Energy in a report on Tuesday. Wall Street Zen upgraded Hallador Energy from a “strong sell” rating to a “sell” rating in a research report on Sunday, June 28th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Hallador Energy in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Hallador Energy currently has an average rating of “Moderate Buy” and an average price target of $25.12.

Hallador Energy Stock Performance

Hallador Energy stock opened at $15.49 on Wednesday. The stock has a market cap of $730.25 million, a P/E ratio of 774.50 and a beta of 0.25. Hallador Energy has a fifty-two week low of $13.65 and a fifty-two week high of $24.70. The firm’s fifty day moving average price is $16.30 and its 200-day moving average price is $17.28.

Hallador Energy (NASDAQ:HNRG) last posted its quarterly earnings data on Monday, August 10th. The energy company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.20). Hallador Energy had a negative net margin of 0.20% and a negative return on equity of 0.53%. The business had revenue of $101.51 million for the quarter, compared to the consensus estimate of $90.33 million. Sell-side analysts predict that Hallador Energy will post -0.09 earnings per share for the current year.

Insider Buying and Selling

In other Hallador Energy news, Director Charles Ray Iv Wesley acquired 15,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was bought at an average price of $16.69 per share, with a total value of $250,350.00. Following the purchase, the director owned 338,469 shares of the company’s stock, valued at approximately $5,649,047.61. This trade represents a 4.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel Timothy Hudson bought 5,000 shares of Hallador Energy stock in a transaction that occurred on Thursday, July 9th. The shares were acquired at an average cost of $16.58 per share, for a total transaction of $82,900.00. Following the acquisition, the director owned 20,000 shares in the company, valued at $331,600. The trade was a 33.33% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 35,000 shares of company stock valued at $589,170. Company insiders own 17.43% of the company’s stock.

Institutional Investors Weigh In On Hallador Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada boosted its holdings in Hallador Energy by 92.5% during the 4th quarter. Royal Bank of Canada now owns 1,413 shares of the energy company’s stock valued at $27,000 after acquiring an additional 679 shares during the period. Raymond James Financial Inc. purchased a new position in Hallador Energy in the 2nd quarter worth approximately $27,000. Summit Securities Group LLC bought a new stake in Hallador Energy in the first quarter valued at approximately $31,000. State of Wyoming purchased a new stake in shares of Hallador Energy during the second quarter valued at approximately $32,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Hallador Energy by 11,110.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,130 shares of the energy company’s stock worth $34,000 after purchasing an additional 2,111 shares during the last quarter. Institutional investors own 61.38% of the company’s stock.

About Hallador Energy

Hallador Energy Company is a coal producer and mine operator trading on NASDAQ under the symbol HNRG. The company’s primary business activities center on the production and sale of bituminous thermal coal. Hallador’s operations encompass two surface mines: the Shoal Creek Mine located in southwestern Indiana and the Bull Mountain Mine situated in eastern Montana. Both sites are designed to extract high-quality coal reserves for the power generation market.

Hallador Energy markets its coal primarily to electric utilities and industrial customers across the United States.