Short Interest in Tamboran Resources Corporation (NYSE:TBN) Declines By 49.0%

Tamboran Resources Corporation (NYSE:TBN) saw a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 543,313 shares, a decline of 49.0% from the July 30th total of 1,064,793 shares. Based on an average trading volume of 89,678 shares, the days-to-cover ratio is presently 6.1 days. Currently, 2.0% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of analysts recently commented on TBN shares. Roth Capital initiated coverage on Tamboran Resources in a research note on Thursday, May 21st. They set a “buy” rating and a $47.00 price objective on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Tamboran Resources in a research note on Monday, July 6th. Finally, Zacks Research lowered shares of Tamboran Resources from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 29th. Four investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Tamboran Resources currently has a consensus rating of “Hold” and an average target price of $58.50.

Tamboran Resources Stock Up 1.7%

TBN stock opened at $37.78 on Tuesday. The stock has a market capitalization of $1.07 billion, a P/E ratio of -20.20 and a beta of -2.08. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.00 and a current ratio of 2.00. Tamboran Resources has a one year low of $19.55 and a one year high of $52.21. The company has a 50 day moving average price of $33.91 and a two-hundred day moving average price of $34.36.

Institutional Investors Weigh In On Tamboran Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Walleye Capital LLC increased its stake in Tamboran Resources by 6.4% in the first quarter. Walleye Capital LLC now owns 7,983 shares of the company’s stock valued at $399,000 after purchasing an additional 482 shares during the last quarter. Bank of America Corp DE boosted its stake in Tamboran Resources by 66.7% in the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock worth $31,000 after buying an additional 600 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Tamboran Resources in the 2nd quarter worth about $39,000. Deutsche Bank AG purchased a new stake in Tamboran Resources in the 2nd quarter valued at about $42,000. Finally, Avalon Trust Co purchased a new stake in Tamboran Resources in the 2nd quarter valued at about $44,000.

Tamboran Resources Company Profile

Tamboran Resources is an independent energy company focused on the exploration and development of unconventional natural gas resources. Headquartered in Canada and listed on the New York Stock Exchange under the ticker TBN, the company concentrates its activities on onshore basins in Australia. Tamboran’s primary objective is to advance its exploration acreage toward commercial viability by leveraging modern drilling and reservoir evaluation techniques.

The company holds exploration licenses in the Beetaloo Basin in the Northern Territory of Australia, where it is conducting appraisal drilling programs to define reservoir characteristics and recoverability.