Arch Coal Inc (NYSE:ARCH) Short Interest Update
Arch Coal Inc (NYSE:ARCH) was the recipient of a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 1,530,000 shares, a decline of 13.1% from the June 30th total of 1,760,000 shares. Based on an average daily volume of 479,900 shares, the short-interest ratio is currently 3.2 days. Currently, 10.2% of the shares of the company are sold short.
ARCH has been the topic of a number of research analyst reports. Jefferies Financial Group downgraded shares of Arch Coal from a “buy” rating to a “hold” rating and lowered their price objective for the company from $50.00 to $26.00 in a research report on Monday, April 27th. TheStreet cut shares of Arch Coal from a “c” rating to a “d+” rating in a research note on Tuesday, July 28th. ValuEngine upgraded shares of Arch Coal from a “hold” rating to a “buy” rating in a research note on Friday, July 3rd. B. Riley cut their target price on shares of Arch Coal from $73.00 to $67.00 in a research note on Tuesday, June 30th. Finally, Benchmark lowered their target price on shares of Arch Coal from $75.00 to $48.00 and set a “sell” rating on the stock in a report on Tuesday, April 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Arch Coal presently has a consensus rating of “Hold” and a consensus target price of $60.29.
Arch Coal stock traded up $0.07 during midday trading on Friday, reaching $31.02. The company’s stock had a trading volume of 343,480 shares, compared to its average volume of 253,486. The stock has a market cap of $469.83 million, a PE ratio of 36.93 and a beta of 0.94. The company has a current ratio of 2.06, a quick ratio of 1.75 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $29.99 and a 200-day moving average price of $38.21. Arch Coal has a 52 week low of $21.80 and a 52 week high of $92.37.
In related news, Director Robert B. Hamill purchased 2,000 shares of the company’s stock in a transaction on Monday, May 18th. The shares were bought at an average cost of $31.59 per share, for a total transaction of $63,180.00. Insiders own 5.00% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of ARCH. Tower Research Capital LLC TRC bought a new position in shares of Arch Coal in the first quarter worth about $136,000. BNP Paribas Arbitrage SA raised its holdings in shares of Arch Coal by 53.8% during the first quarter. BNP Paribas Arbitrage SA now owns 6,302 shares of the energy company’s stock valued at $182,000 after acquiring an additional 2,204 shares during the period. State of Tennessee Treasury Department acquired a new stake in shares of Arch Coal during the first quarter valued at approximately $235,000. Mackay Shields LLC acquired a new stake in shares of Arch Coal during the first quarter valued at approximately $263,000. Finally, Water Island Capital LLC acquired a new stake in shares of Arch Coal during the first quarter valued at approximately $272,000.
About Arch Coal
Arch Coal, Inc produces and sells thermal and metallurgical coal from surface and underground mines. As of December 31, 2018, the company operated nine active mines. It also owned or controlled primarily through long-term leases approximately 28,292 acres of coal land in Ohio; 1,060 acres of coal land in Maryland; 10,195 acres of coal land in Virginia; 359,122 acres of coal land in West Virginia; 81,868 acres of coal land in Wyoming; 268,802 acres of coal land in Illinois; 33,527 acres of coal land in Kentucky; 9,840 acres of coal land in Montana; 21,802 acres of coal land in New Mexico; 358 acres of coal land in Pennsylvania; and 19,146 acres of coal land in Colorado, as well as owned or controlled through long-term leases smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.
Further Reading: Limitations of the P/E Growth ratio
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