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 a report from HoldingsChannel.com. This move highlights the growing interest among institutional investors in the energy sector as several other hedge funds have also adjusted their positions in Hallador.
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Hallador Energy by 4.3% in the first quarter, acquiring an additional 624 shares, which brought its total holdings to 15,193 shares valued at $187,000. Similarly, Rhumbline Advisers raised its stake by 2.5%, now holding 37,607 shares worth approximately $462,000, following the purchase of 935 additional shares. SummerHaven Investment Management LLC also expanded its position by 1.0% in the second quarter, owning 107,766 shares valued at $1.706 million.
Notably, Ameritas Investment Partners Inc. significantly increased its stake by 68.0%, now holding 3,169 shares valued at $50,000. Pinnacle Holdings LLC raised its position by 33.0%, acquiring a total of 5,538 shares worth approximately $68,000. Overall, hedge funds and institutional investors currently own 61.38% of Hallador Energy’s stock.
Analyst Ratings Reflect Mixed Sentiment
Hallador Energy has garnered mixed reviews from analysts. Zacks Research upgraded the stock from a “hold” to a “strong-buy” rating on Monday. In contrast, Weiss Ratings maintained a “sell (d-)” rating, while Citigroup downgraded Hallador Energy to a “neutral” rating in August. Meanwhile, Alliance Global Partners reiterated a “buy” rating, and Wall Street Zen upgraded the stock from “hold” to “buy” in late October. Currently, two analysts have rated Hallador Energy as a strong buy, while two others issued a buy rating. The consensus rating stands at “Moderate Buy” with a target price of $21.25.
Recent Trading Performance
On Friday, NASDAQ HNRG opened at $19.89, reflecting a 1.2% increase. The company boasts a fifty-day moving average of $20.19 and a 200-day moving average of $18.05. Hallador Energy maintains a market capitalization of $871.68 million, with a price-to-earnings (P/E) ratio of -3.99 and a beta of 0.44. Over the past year, the stock has fluctuated between a low of $8.37 and a high of $24.70.
In its most recent earnings report released on November 10, Hallador Energy announced an earnings per share (EPS) of $0.55, significantly surpassing analysts’ expectations of $0.06 by $0.49. The company reported revenue of $146.85 million, exceeding anticipated revenue of $110.92 million. Additionally, Hallador Energy recorded a positive return on equity of 11.58% and a net margin of -46.61%.
Insider Transactions Signal Confidence
In related news, Director Charles Ray Iv Wesley acquired 13,000 shares of Hallador Energy on November 21, at an average price of $19.28 per share, totaling $250,640. Following this acquisition, Wesley’s holdings increased to 247,914 shares valued at approximately $4.78 million, signifying a 5.53% rise in ownership. This transaction was disclosed in filings with the Securities and Exchange Commission (SEC).
Conversely, Director David C. Hardie sold 100,000 shares on September 30 at an average price of $19.53, amounting to $1.953 million. Post-sale, Hardie owns 21,072 shares valued at around $411,536, representing an 82.60% decrease in his position. In total, insiders sold 372,062 shares valued at $7.23 million over the last ninety days, with corporate insiders currently holding 23.73% of the stock.
About Hallador Energy Company
Hallador Energy Company, through its subsidiaries, specializes in the production of steam coal in Indiana for the electric power generation sector. The company operates the Oaktown Mine 1 and Oaktown Mine 2 underground mines, along with the Freelandville Center Pit surface mine and the Prosperity Surface mine in Petersburg, Indiana.
For those interested in the latest hedge fund activities and insider trades related to Hallador Energy, further details can be obtained from HoldingsChannel.com.
