Alpha Metallurgical Resources, Inc. (NYSE:AMR) Sees Significant Drop in Short Interest

Alpha Metallurgical Resources, Inc. (NYSE:AMR) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 931,500 shares, a drop of 6.9% from the October 15th total of 1,000,000 shares. Based on an average daily trading volume, of 221,800 shares, the days-to-cover ratio is currently 4.2 days. Currently, 8.6% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AMR shares. B. Riley dropped their price target on shares of Alpha Metallurgical Resources from $374.00 to $336.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Benchmark reaffirmed a “hold” rating on shares of Alpha Metallurgical Resources in a report on Monday, November 4th.

Institutional Trading of Alpha Metallurgical Resources

Several large investors have recently added to or reduced their stakes in AMR. Federated Hermes Inc. purchased a new position in shares of Alpha Metallurgical Resources during the second quarter valued at $25,000. GAMMA Investing LLC grew its stake in Alpha Metallurgical Resources by 124.6% during the 3rd quarter. GAMMA Investing LLC now owns 137 shares of the energy company’s stock valued at $32,000 after acquiring an additional 76 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Alpha Metallurgical Resources in the 3rd quarter valued at about $36,000. Sound Income Strategies LLC purchased a new stake in shares of Alpha Metallurgical Resources in the third quarter worth approximately $40,000. Finally, Quest Partners LLC acquired a new stake in shares of Alpha Metallurgical Resources during the third quarter worth approximately $116,000. 84.29% of the stock is owned by institutional investors and hedge funds.

Alpha Metallurgical Resources Trading Down 0.3 %

Shares of AMR opened at $241.82 on Wednesday. The business’s 50-day moving average price is $219.68 and its 200 day moving average price is $260.11. The stock has a market capitalization of $3.15 billion, a P/E ratio of 8.64 and a beta of 1.33. Alpha Metallurgical Resources has a 1-year low of $185.00 and a 1-year high of $452.00.

Alpha Metallurgical Resources (NYSE:AMR) last released its earnings results on Friday, November 1st. The energy company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($1.31). Alpha Metallurgical Resources had a return on equity of 22.65% and a net margin of 11.08%. The firm had revenue of $671.90 million during the quarter, compared to analysts’ expectations of $672.95 million. During the same period last year, the business earned $6.65 earnings per share. The business’s revenue was down 9.4% on a year-over-year basis. On average, research analysts predict that Alpha Metallurgical Resources will post 16.87 earnings per share for the current year.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc, a mining company, produces, processes, and sells met and thermal coal in Virginia and West Virginia. The company offers metallurgical coal products. It operates twenty-two active mines and nine coal preparation and load-out facilities. The company was formerly known as Contura Energy, Inc and changed its name to Alpha Metallurgical Resources, Inc in February 2021.