Gastar Exploration Inc (NYSE:GST) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 22,160,450 shares, an increase of 0.4% from the July 14th total of 22,079,365 shares. Based on an average trading volume of 1,181,837 shares, the short-interest ratio is presently 18.8 days. Currently, 11.4% of the shares of the company are short sold.
Shares of Gastar Exploration (NYSE:GST) traded down 4.9805% during midday trading on Friday, reaching $0.6563. 1,836,116 shares of the company traded hands. Gastar Exploration has a 1-year low of $0.38 and a 1-year high of $2.19. The stock has a 50 day moving average price of $0.82 and a 200 day moving average price of $1.26. The firm’s market capitalization is $130.96 million.
Gastar Exploration (NYSE:GST) last issued its earnings results on Thursday, August 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $22.60 million during the quarter, compared to analyst estimates of $18.78 million. During the same period in the previous year, the business earned ($0.12) earnings per share. The firm’s revenue was up 85.2% on a year-over-year basis. Analysts expect that Gastar Exploration will post ($0.16) earnings per share for the current fiscal year.
In other news, Director Ares Management Llc bought 514,227 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were bought at an average price of $1.23 per share, for a total transaction of $632,499.21. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.
Hedge funds have recently modified their holdings of the company. Rhumbline Advisers bought a new stake in shares of Gastar Exploration during the second quarter worth about $163,000. Verition Fund Management LLC increased its stake in shares of Gastar Exploration by 7.8% in the second quarter. Verition Fund Management LLC now owns 250,000 shares of the company’s stock worth $232,000 after buying an additional 18,107 shares during the period. Wells Fargo & Company MN increased its stake in shares of Gastar Exploration by 2.4% in the second quarter. Wells Fargo & Company MN now owns 254,924 shares of the company’s stock worth $236,000 after buying an additional 6,000 shares during the last quarter. California State Teachers Retirement System acquired a new stake in shares of Gastar Exploration during the second quarter worth about $286,000. Finally, Teachers Advisors LLC acquired a new stake in shares of Gastar Exploration during the second quarter worth about $294,000.
A number of equities research analysts have commented on the stock. Williams Capital set a $1.00 target price on shares of Gastar Exploration and gave the stock a “hold” rating in a research note on Friday, August 4th. Zacks Investment Research cut shares of Gastar Exploration from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 18th. Finally, Seaport Global Securities cut shares of Gastar Exploration from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $3.00 to $1.00 in a research report on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $1.50.
About Gastar Exploration
Gastar Exploration Inc, an independent energy company, engages in the exploration, development, and production of oil, condensate, natural gas, and natural gas liquids in the United States. Its principal activities include the identification, acquisition, exploration, and development of oil and natural gas properties on unconventional reserves, such as shale resource plays.
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