Abraxas Petroleum Corp. (NASDAQ:AXAS) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 3,483,200 shares, a growth of 9.6% from the June 30th total of 3,178,800 shares. Based on an average daily trading volume, of 987,900 shares, the short-interest ratio is presently 3.5 days. Approximately 2.2% of the company’s stock are sold short.

Several brokerages have commented on AXAS. ValuEngine cut shares of Abraxas Petroleum from a “sell” rating to a “strong sell” rating in a research report on Monday, April 29th. Seaport Global Securities reissued a “buy” rating on shares of Abraxas Petroleum in a research report on Friday, June 21st. Finally, Zacks Investment Research raised shares of Abraxas Petroleum from a “sell” rating to a “hold” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $3.25.

Institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank acquired a new stake in shares of Abraxas Petroleum in the 4th quarter valued at $26,000. Mckinley Capital Management LLC Delaware raised its holdings in shares of Abraxas Petroleum by 108.4% in the 1st quarter. Mckinley Capital Management LLC Delaware now owns 20,915 shares of the energy company’s stock valued at $27,000 after purchasing an additional 10,877 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in shares of Abraxas Petroleum in the 2nd quarter valued at $40,000. BNP Paribas Arbitrage SA raised its holdings in shares of Abraxas Petroleum by 57,277.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 33,279 shares of the energy company’s stock valued at $42,000 after purchasing an additional 33,221 shares in the last quarter. Finally, Cornerstone Investment Partners LLC raised its holdings in shares of Abraxas Petroleum by 55.7% in the 1st quarter. Cornerstone Investment Partners LLC now owns 47,638 shares of the energy company’s stock valued at $60,000 after purchasing an additional 17,035 shares in the last quarter. Institutional investors and hedge funds own 52.66% of the company’s stock.

AXAS stock traded down $0.04 during midday trading on Thursday, hitting $0.46. The company’s stock had a trading volume of 56,236 shares, compared to its average volume of 935,569. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 1.28. Abraxas Petroleum has a 52-week low of $0.50 and a 52-week high of $2.57. The company has a market cap of $104.63 million, a price-to-earnings ratio of 2.67 and a beta of 1.67. The firm has a 50-day moving average of $0.91.

Abraxas Petroleum (NASDAQ:AXAS) last announced its quarterly earnings data on Wednesday, August 7th. The energy company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.02). Abraxas Petroleum had a net margin of 29.82% and a return on equity of 13.98%. The firm had revenue of $34.82 million during the quarter, compared to analyst estimates of $33.00 million. On average, research analysts expect that Abraxas Petroleum will post 0.17 earnings per share for the current year.

About Abraxas Petroleum

Abraxas Petroleum Corporation, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of oil and gas properties in the United States. The company operates oil and gas assets in the Permian/Delaware Basin, the Rocky Mountain, and South Texas regions.

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