Corsair Capital Management L.P. has acquired a new stake in Hallador Energy Company (NASDAQ: HNRG), purchasing 30,000 shares valued at approximately $475,000 during the second quarter of 2023, according to HoldingsChannel.com. This acquisition highlights a growing interest in the energy sector as several other hedge funds have also adjusted their positions in the company’s stock.
Notably, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Hallador Energy by 4.3% in the first quarter, now owning 15,193 shares worth about $187,000. Similarly, Rhumbline Advisers raised its stake by 2.5%, bringing its total to 37,607 shares valued at $462,000. SummerHaven Investment Management LLC also made a move, increasing its position by 1.0% to 107,766 shares, valued at $1,706,000.
Wall Street Analysts Evaluate Hallador Energy
Analysts have recently issued various ratings for Hallador Energy, reflecting differing perspectives on the company’s performance. Zacks Research upgraded the stock from a “hold” to a “strong-buy” rating, indicating optimism about its future. In contrast, Weiss Ratings maintained a “sell” rating, highlighting potential concerns. Citigroup adjusted its rating to “neutral,” while Alliance Global Partners reaffirmed a “buy” rating.
The consensus among analysts is a “Moderate Buy” with a target price of $21.25. Currently, Hallador Energy has received two “Strong Buy” ratings, two “Buy” ratings, two “Hold” ratings, and one “Sell” rating.
Current Market Performance of Hallador Energy
As of the latest trading session, Hallador Energy opened at $19.89. The company has a market capitalization of $871.68 million, with a fifty-day moving average of $20.19 and a two-hundred-day moving average of $18.05. The stock has experienced a range over the past year, reaching a high of $24.70 and a low of $8.37. Additionally, Hallador Energy’s debt-to-equity ratio stands at 0.25, and it has a PE ratio of -3.99.
In its most recent earnings announcement on November 10, 2023, Hallador reported earnings per share (EPS) of $0.55, significantly exceeding analysts’ expectations of $0.06. The company generated revenue of $146.85 million, surpassing projected figures of $110.92 million. Its return on equity was 11.58%, although it reported a net margin of -46.61%.
Looking ahead, research analysts forecast that Hallador Energy will post an EPS of -0.31 for the current year, indicating potential challenges in maintaining profitability.
Insider Transactions and Ownership
In recent insider trading activities, Director Charles Ray Iv Wesley acquired 13,000 shares of Hallador Energy at an average price of $19.28 per share on November 21, 2023. This transaction totaled approximately $250,640, increasing his total ownership to 247,914 shares, valued at $4,779,781.92.
Conversely, Director David C. Hardie sold 100,000 shares on September 30, 2023, at an average price of $19.53, for a total of $1,953,000. This sale reduced his holdings to 21,072 shares, worth approximately $411,536.16. Insiders have collectively sold 372,062 shares valued at $7,232,705 over the past ninety days, with corporate insiders currently owning 23.73% of the stock.
Hallador Energy Company, based in Indiana, focuses on producing steam coal for the electric power generation industry. It operates several mines, including the Oaktown Mine 1 and Oaktown Mine 2, as well as the Freelandville Center Pit and Prosperity Surface mines.
For those interested in tracking further developments regarding Hallador Energy and its stakeholders, detailed information is available through platforms such as HoldingsChannel.com.
