Alpha Metallurgical Resources, Inc. (NYSE:AMR) Short Interest Up 5.8% in August

Alpha Metallurgical Resources, Inc. (NYSE:AMR) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,090,000 shares, an increase of 5.8% from the August 15th total of 1,030,000 shares. Based on an average daily trading volume, of 213,300 shares, the short-interest ratio is presently 5.1 days. Approximately 10.0% of the shares of the company are short sold.

Hedge Funds Weigh In On Alpha Metallurgical Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. Invst LLC raised its stake in Alpha Metallurgical Resources by 9.2% during the 2nd quarter. Invst LLC now owns 2,287 shares of the energy company’s stock valued at $642,000 after acquiring an additional 193 shares in the last quarter. Creative Planning increased its holdings in shares of Alpha Metallurgical Resources by 2.9% during the second quarter. Creative Planning now owns 1,529 shares of the energy company’s stock valued at $429,000 after purchasing an additional 43 shares during the period. Algert Global LLC raised its stake in shares of Alpha Metallurgical Resources by 217.0% during the second quarter. Algert Global LLC now owns 4,184 shares of the energy company’s stock valued at $1,174,000 after purchasing an additional 2,864 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Alpha Metallurgical Resources by 1.4% in the second quarter. The Manufacturers Life Insurance Company now owns 6,695 shares of the energy company’s stock worth $1,878,000 after purchasing an additional 94 shares during the period. Finally, AQR Capital Management LLC grew its position in Alpha Metallurgical Resources by 11.7% in the 2nd quarter. AQR Capital Management LLC now owns 6,694 shares of the energy company’s stock valued at $1,878,000 after buying an additional 701 shares in the last quarter. 84.29% of the stock is currently owned by institutional investors and hedge funds.

Alpha Metallurgical Resources Stock Performance

Shares of AMR traded down $5.29 during midday trading on Wednesday, hitting $200.33. 326,711 shares of the stock traded hands, compared to its average volume of 223,321. The business’s 50 day moving average price is $253.93 and its two-hundred day moving average price is $293.68. The firm has a market capitalization of $2.61 billion, a PE ratio of 4.93 and a beta of 1.30. 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 posted its earnings results on Monday, August 5th. The energy company reported $4.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.46 by $0.03. Alpha Metallurgical Resources had a net margin of 13.52% and a return on equity of 28.63%. The firm had revenue of $804.00 million during the quarter, compared to analyst estimates of $733.05 million. During the same period in the previous year, the business posted $12.16 EPS. Alpha Metallurgical Resources’s revenue was down 6.3% on a year-over-year basis. As a group, equities research analysts forecast that Alpha Metallurgical Resources will post 20.67 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on AMR shares. B. Riley cut their target price on shares of Alpha Metallurgical Resources from $374.00 to $336.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Benchmark reiterated a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Tuesday, August 6th.

Alpha Metallurgical Resources Company Profile

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.