Infinity Natural Resources (NYSE:INR) Shares Gap Up – Here’s What Happened

Infinity Natural Resources Inc. (NYSE:INR)’s share price gapped up before the market opened on Thursday. The stock had previously closed at $13.06, but opened at $13.55. Infinity Natural Resources shares last traded at $13.5050, with a volume of 6,032 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on INR. Zacks Research downgraded Infinity Natural Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, September 28th. Royal Bank Of Canada lowered their price target on Infinity Natural Resources from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 14th. Weiss Ratings upgraded Infinity Natural Resources from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, November 2nd. Scotiabank began coverage on Infinity Natural Resources in a research note on Wednesday, October 14th. They issued a “sector outperform” rating and a $17.00 price objective for the company. Finally, Citigroup reissued a “buy” rating on shares of Infinity Natural Resources in a research note on Wednesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Infinity Natural Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.83.

Infinity Natural Resources Stock Performance

The company has a current ratio of 0.70, a quick ratio of 0.87 and a debt-to-equity ratio of 1.39. The stock’s fifty day simple moving average is $13.73 and its 200 day simple moving average is $14.70. The company has a market cap of $872.75 million, a price-to-earnings ratio of 9.33 and a beta of -0.43.

Infinity Natural Resources (NYSE:INR) last issued its earnings results on Monday, November 9th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $0.82 by ($1.19). The company had revenue of $197.58 million for the quarter. Infinity Natural Resources had a return on equity of 43.15% and a net margin of 7.86%. As a group, analysts anticipate that Infinity Natural Resources Inc. will post 3.23 earnings per share for the current year.

Insider Activity at Infinity Natural Resources

In related news, Director Scott Gieselman acquired 10,000 shares of the stock in a transaction on Tuesday, September 22nd. The shares were bought at an average price of $13.06 per share, with a total value of $130,600.00. Following the completion of the purchase, the director owned 123,467 shares of the company’s stock, valued at approximately $1,612,479.02. This represents a 8.81% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Cary D. Baetz bought 22,000 shares of the company’s stock in a transaction on Thursday, September 24th. The stock was bought at an average price of $13.44 per share, with a total value of $295,680.00. Following the completion of the acquisition, the chief financial officer owned 22,000 shares in the company, valued at $295,680. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 50,783 shares of company stock valued at $663,625. Insiders own 40.90% of the company’s stock.

Institutional Trading of Infinity Natural Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc raised its holdings in shares of Infinity Natural Resources by 76.8% during the 2nd quarter. Versant Capital Management Inc now owns 3,796 shares of the company’s stock worth $48,000 after acquiring an additional 1,649 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Infinity Natural Resources during the 2nd quarter valued at about $139,000. Cowa LLC purchased a new stake in shares of Infinity Natural Resources in the third quarter valued at about $189,000. HighTower Advisors LLC purchased a new stake in shares of Infinity Natural Resources in the third quarter valued at about $281,000. Finally, Quantinno Capital Management LP grew its holdings in shares of Infinity Natural Resources by 28.5% in the first quarter. Quantinno Capital Management LP now owns 48,457 shares of the company’s stock valued at $853,000 after purchasing an additional 10,746 shares during the period.

About Infinity Natural Resources

Infinity Natural Resources is an independent energy company focused on acquiring, developing and producing oil and natural gas. Its operations are concentrated in the Appalachian Basin, where it produces natural gas, natural gas liquids and oil from formations including the Utica and Marcellus shale. Based in Morgantown, West Virginia, the company’s assets are located in the Appalachian region, including Ohio and Pennsylvania. Infinity was founded in 2017, and Zack Arnold serves as its president and chief executive officer.