Shares of Hallador Energy Company (NASDAQ:HNRG) experienced a significant increase of **8.6%** on Thursday, reaching an intraday high of **$18.67** before closing at **$18.80**. This surge in stock price comes amid a backdrop of fluctuating trading volume, with **264,114** shares exchanged, marking a **60%** decline from the average session volume of **664,603** shares. The stock had previously closed at **$17.31**.
Analyst Upgrades Drive Investor Confidence
Several equities analysts have recently revised their ratings for Hallador Energy, contributing to the stock’s uptick. On **October 26**, Wall Street Zen upgraded the company from a “hold” to a “buy” rating. Following this, Industrial Alliance Securities set a target price of **$28.00** in a report dated **November 11**. Also on **November 24**, Zacks Research elevated Hallador Energy from a “hold” to a “strong-buy” rating. Alongside these upgrades, Alliance Global Partners reaffirmed a “buy” rating on the same date.
Currently, the consensus among analysts shows a mixed sentiment. Two analysts advocate for a strong buy, two recommend buying, two suggest holding, and one has issued a sell rating. Data from MarketBeat indicates that Hallador Energy holds an average rating of “Moderate Buy” with a target price of **$22.67**.
Strong Earnings Report Boosts Market Sentiment
Hallador Energy recently announced its quarterly earnings on **November 10**, reporting earnings per share (EPS) of **$0.55**, significantly exceeding analysts’ projections of **$0.06** by **$0.49**. The company’s revenue for the quarter stood at **$146.85 million**, well above the consensus estimate of **$110.92 million**. Despite a negative net margin of **37.57%**, Hallador achieved a notable return on equity of **33.97%**. Looking ahead, analysts project an average EPS of **-0.31** for the current year.
Insider trading activity has also garnered attention. On **September 30**, Director David C. Hardie sold **100,000 shares** at an average price of **$19.53**, amounting to a total of **$1,953,000**. Following this transaction, Hardie retained **21,072 shares**, valued at approximately **$411,536**. Meanwhile, Director Charles Ray Iv Wesley acquired **20,000 shares** on **December 17** at an average cost of **$17.83** per share, indicating a **8.07%** increase in his ownership.
Institutional Investments Reflect Growing Interest
Institutional investors are also showing increased interest in Hallador Energy. Vanguard Group Inc. raised its holdings by **4.0%**, now owning **1,693,561 shares** valued at **$20,797,000** after acquiring an additional **65,652 shares**. Invesco Ltd. significantly boosted its stake by **356.4%**, now holding **273,300 shares** worth **$3,356,000**. Other notable investors include Nuveen LLC, which added a new stake valued at approximately **$1,090,000**, and American Century Companies Inc., which increased its position by **16.4%**, bringing its total to **924,812 shares** valued at **$11,357,000**.
Currently, institutional investors own **61.38%** of Hallador Energy’s stock, underscoring the growing confidence in the company’s prospects.
Hallador Energy, a coal producer and mine operator, engages primarily in the production and sale of bituminous thermal coal, with operations involving two surface mines located in Indiana and Montana. The company markets its coal mainly to electric utilities and industrial customers throughout the United States.
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