Falcon Minerals Corp (NASDAQ:FLMN) Sees Large Growth in Short Interest

Falcon Minerals Corp (NASDAQ:FLMN) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 1,880,000 shares, an increase of 24.5% from the August 30th total of 1,510,000 shares. Based on an average trading volume of 188,500 shares, the short-interest ratio is currently 10.0 days. Approximately 5.0% of the company’s shares are short sold.

Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Falcon Minerals from a “sell” rating to a “hold” rating in a report on Tuesday. Citigroup set a $8.00 price objective on shares of Falcon Minerals and gave the stock a “buy” rating in a report on Monday, August 12th. ValuEngine upgraded shares of Falcon Minerals from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. SunTrust Banks assumed coverage on shares of Falcon Minerals in a report on Monday, June 17th. They issued a “buy” rating and a $11.00 price target on the stock. Finally, Wells Fargo & Co assumed coverage on shares of Falcon Minerals in a report on Friday, October 4th. They issued a “market perform” rating on the stock. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $9.89.

Shares of FLMN stock traded up $0.25 during mid-day trading on Friday, reaching $6.39. 908,691 shares of the company were exchanged, compared to its average volume of 179,460. Falcon Minerals has a fifty-two week low of $5.31 and a fifty-two week high of $10.85. The company has a debt-to-equity ratio of 0.14, a quick ratio of 9.25 and a current ratio of 9.25. The company has a market capitalization of $470.52 million, a P/E ratio of 31.95 and a beta of 0.47. The business’s 50 day simple moving average is $6.15 and its 200 day simple moving average is $7.51.

Falcon Minerals (NASDAQ:FLMN) last released its quarterly earnings results on Monday, August 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.04). Falcon Minerals had a return on equity of 10.79% and a net margin of 31.57%. The company had revenue of $18.25 million for the quarter, compared to analyst estimates of $20.88 million. On average, analysts forecast that Falcon Minerals will post 0.43 EPS for the current year.

In other news, major shareholder Hite Hedge Asset Management Ll sold 176,400 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $7.04, for a total transaction of $1,241,856.00. Also, Director Al J. Hirshberg acquired 50,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were bought at an average price of $4.49 per share, for a total transaction of $224,500.00. The disclosure for this purchase can be found here. Corporate insiders own 15.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Falcon Minerals by 1,296.3% during the second quarter. BlackRock Inc. now owns 2,002,355 shares of the company’s stock worth $16,820,000 after buying an additional 1,858,954 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Falcon Minerals by 14.6% during the second quarter. Vanguard Group Inc. now owns 1,277,515 shares of the company’s stock worth $10,731,000 after buying an additional 163,149 shares in the last quarter. Cooperman Leon G acquired a new stake in shares of Falcon Minerals during the second quarter worth approximately $3,385,000. Marshall Wace LLP grew its position in shares of Falcon Minerals by 50.6% during the second quarter. Marshall Wace LLP now owns 368,041 shares of the company’s stock worth $3,091,000 after buying an additional 123,640 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Falcon Minerals by 61.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 225,640 shares of the company’s stock worth $1,896,000 after buying an additional 86,128 shares in the last quarter. 38.97% of the stock is owned by institutional investors and hedge funds.

Falcon Minerals Company Profile

Falcon Minerals Corporation acquires and owns mineral, royalty, and over-riding royalty interests in oil and natural gas properties in North America. It owns interests covering approximately 256,000 gross unit acres in the Eagle Ford Shale and Austin Chalk in Karnes, DeWitt, and Gonzales Counties in Texas, as well as approximately 68,000 gross unit acres in Pennsylvania, Ohio, and West Virginia that is prospective for the Marcellus Shale.

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