Alliance Resource Partners, L.P. (NASDAQ:ARLP) saw a significant increase in short interest in June. As of June 30th, there was short interest totalling 2,826,200 shares, an increase of 33.1% from the May 30th total of 2,123,800 shares. Currently, 3.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 487,900 shares, the short-interest ratio is currently 5.8 days.
Shares of ARLP opened at $17.71 on Friday. Alliance Resource Partners has a one year low of $16.50 and a one year high of $20.99. The firm has a market capitalization of $2.27 billion, a P/E ratio of 6.09 and a beta of 0.92. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average price is $17.27.
Alliance Resource Partners (NASDAQ:ARLP) last announced its quarterly earnings data on Monday, April 29th. The energy company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.69 by $0.34. Alliance Resource Partners had a net margin of 23.51% and a return on equity of 30.52%. The business had revenue of $526.60 million during the quarter, compared to the consensus estimate of $523.00 million. During the same period in the previous year, the business earned $1.16 earnings per share. The company’s revenue was up 15.2% on a year-over-year basis. Equities analysts expect that Alliance Resource Partners will post 3.1 earnings per share for the current year.
Several brokerages have commented on ARLP. BidaskClub upgraded shares of Zebra Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 6th. Zacks Investment Research downgraded shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Clarkson Capital began coverage on shares of Alliance Resource Partners in a research report on Tuesday, July 9th. They set a “buy” rating and a $20.00 price objective for the company. Finally, ValuEngine downgraded shares of Verso from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $20.50.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Abacus Planning Group Inc. bought a new stake in shares of Alliance Resource Partners in the fourth quarter worth $246,000. Valeo Financial Advisors LLC grew its stake in shares of Alliance Resource Partners by 185.7% in the second quarter. Valeo Financial Advisors LLC now owns 3,525 shares of the energy company’s stock worth $60,000 after purchasing an additional 2,291 shares during the last quarter. Arlington Partners LLC bought a new stake in shares of Alliance Resource Partners in the second quarter worth $114,000. Chiron Investment Management LLC grew its stake in shares of Alliance Resource Partners by 19.6% in the fourth quarter. Chiron Investment Management LLC now owns 9,784 shares of the energy company’s stock worth $170,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Cetera Advisors LLC bought a new stake in shares of Alliance Resource Partners in the first quarter worth $203,000. 25.00% of the stock is currently owned by hedge funds and other institutional investors.
About Alliance Resource Partners
Alliance Resource Partners, L.P. produces and markets coal primarily to utilities and industrial users in the United States. The company operates through two segments, Illinois Basin and Appalachia. It produces a range of steam and metallurgical coal with sulfur and heat contents. The company operates eight underground mining complexes in Illinois, Indiana, Kentucky, Maryland, and West Virginia.
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