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

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

Alpha Metallurgical Resources Stock Performance

Shares of NYSE AMR opened at $200.33 on Thursday. Alpha Metallurgical Resources has a 52-week low of $185.00 and a 52-week high of $452.00. The business has a fifty day moving average of $251.88 and a two-hundred day moving average of $293.03. The stock has a market cap of $2.61 billion, a PE ratio of 4.85 and a beta of 1.30.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings results on Monday, August 5th. The energy company reported $4.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.46 by $0.03. The firm had revenue of $804.00 million during the quarter, compared to the consensus estimate of $733.05 million. Alpha Metallurgical Resources had a net margin of 13.52% and a return on equity of 28.63%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the firm posted $12.16 EPS. Analysts predict that Alpha Metallurgical Resources will post 20.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on AMR shares. Benchmark reissued a “hold” rating on shares of Alpha Metallurgical Resources in a research report on Tuesday, August 6th. B. Riley dropped their target price on Alpha Metallurgical Resources from $374.00 to $336.00 and set a “buy” rating for the company in a report on Friday, September 6th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AMR. Principal Financial Group Inc. increased its holdings in Alpha Metallurgical Resources by 523.6% during the 4th quarter. Principal Financial Group Inc. now owns 75,966 shares of the energy company’s stock valued at $25,746,000 after purchasing an additional 63,784 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Alpha Metallurgical Resources by 10.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 2,172 shares of the energy company’s stock valued at $736,000 after buying an additional 202 shares during the last quarter. Quadrant Capital Group LLC acquired a new position in Alpha Metallurgical Resources during the 4th quarter worth about $35,000. Norges Bank acquired a new position in shares of Alpha Metallurgical Resources during the fourth quarter worth approximately $21,900,000. Finally, Chesapeake Capital Corp IL acquired a new position in Alpha Metallurgical Resources during the 4th quarter worth $1,535,000. 84.29% of the stock is owned by institutional investors and hedge funds.

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.