Arch Resources, Inc. (NYSE:ARCH) Short Interest Up 5.7% in October

Arch Resources, Inc. (NYSE:ARCH) was the target of a large growth in short interest in October. As of October 15th, there was short interest totalling 1,490,000 shares, a growth of 5.7% from the September 30th total of 1,410,000 shares. Based on an average daily volume of 414,100 shares, the days-to-cover ratio is currently 3.6 days.

Insiders Place Their Bets

In other Arch Resources news, VP Deck Slone sold 253 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $144.75, for a total value of $36,621.75. Following the completion of the sale, the vice president now directly owns 29,120 shares in the company, valued at $4,215,120. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.40% of the company’s stock.

Institutional Trading of Arch Resources

Several hedge funds have recently added to or reduced their stakes in ARCH. CWM LLC lifted its stake in Arch Resources by 132.0% during the second quarter. CWM LLC now owns 174 shares of the energy company’s stock worth $26,000 after purchasing an additional 99 shares during the last quarter. Blue Trust Inc. grew its position in shares of Arch Resources by 5,500.0% in the 2nd quarter. Blue Trust Inc. now owns 336 shares of the energy company’s stock valued at $54,000 after buying an additional 330 shares during the last quarter. Innealta Capital LLC acquired a new stake in Arch Resources during the 2nd quarter worth $55,000. Headlands Technologies LLC purchased a new stake in Arch Resources in the first quarter valued at $69,000. Finally, Virtus Investment Advisers Inc. acquired a new position in Arch Resources in the first quarter valued at $149,000. Institutional investors and hedge funds own 88.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. StockNews.com started coverage on Arch Resources in a research note on Saturday, October 26th. They set a “hold” rating for the company. Benchmark reissued a “buy” rating and set a $180.00 price objective on shares of Arch Resources in a research report on Friday, July 26th. Finally, B. Riley decreased their target price on shares of Arch Resources from $198.00 to $188.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $175.75.

Arch Resources Price Performance

Arch Resources stock opened at $143.96 on Friday. The company has a quick ratio of 1.77, a current ratio of 2.54 and a debt-to-equity ratio of 0.07. Arch Resources has a 52-week low of $116.44 and a 52-week high of $187.60. The firm has a market cap of $2.60 billion, a PE ratio of 10.45 and a beta of 0.60. The company’s 50 day moving average is $135.30 and its two-hundred day moving average is $147.65.

Arch Resources Company Profile

Arch Resources, Inc engages in the production and sale of metallurgical products. It operates in two segments, Metallurgical and Thermal. The company operates active mines. It owned or controlled primarily through long-term leases of coal land in Ohio, Maryland, Virginia, West Virginia, Wyoming, Kentucky, Montana, Pennsylvania, Colorado, and Illinois; and smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.