Infinity Natural Resources (NYSE:INR) Shares Gap Up – Here’s What Happened

Shares of Infinity Natural Resources Inc. (NYSE:INR) gapped up prior to trading on Thursday. The stock had previously closed at $13.06, but opened at $13.55. Infinity Natural Resources shares last traded at $13.5050, with a volume of 6,032 shares trading hands.

Wall Street Analyst Weigh In

INR has been the topic of a number of recent research reports. Citigroup restated a “buy” rating on shares of Infinity Natural Resources in a research note on Wednesday, August 19th. Scotiabank started coverage on Infinity Natural Resources in a research report on Wednesday, October 14th. They set a “sector outperform” rating and a $17.00 price target for the company. Weiss Ratings raised Infinity Natural Resources from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, November 2nd. Royal Bank Of Canada decreased their price target on Infinity Natural Resources from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, October 14th. Finally, Zacks Research lowered Infinity Natural Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, September 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Infinity Natural Resources currently has an average rating of “Moderate Buy” and an average target price of $21.83.

Infinity Natural Resources Price Performance

The company has a current ratio of 0.70, a quick ratio of 0.87 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $872.75 million, a price-to-earnings ratio of 9.33 and a beta of -0.43. The stock has a 50-day moving average price of $13.73 and a 200 day moving average price of $14.70.

Infinity Natural Resources (NYSE:INR) last released its quarterly earnings results on Monday, November 9th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($1.19). The business had revenue of $197.58 million during the quarter. Infinity Natural Resources had a return on equity of 43.15% and a net margin of 7.86%. As a group, equities research analysts expect that Infinity Natural Resources Inc. will post 3.23 earnings per share for the current year.

Insider Buying and Selling

In other Infinity Natural Resources news, Director Scott Gieselman bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The shares were purchased at an average price of $13.06 per share, for a total transaction of $130,600.00. Following the transaction, the director directly owned 123,467 shares of the company’s stock, valued at approximately $1,612,479.02. This represents a 8.81% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Cary D. Baetz bought 22,000 shares of the firm’s stock in a transaction dated Thursday, September 24th. The shares were acquired at an average price of $13.44 per share, for a total transaction of $295,680.00. Following the transaction, the chief financial officer directly owned 22,000 shares in the company, valued at approximately $295,680. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 50,783 shares of company stock valued at $663,625 over the last 90 days. Company insiders own 40.90% of the company’s stock.

Institutional Investors Weigh In On Infinity Natural Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its holdings in Infinity Natural Resources by 285.3% during the first quarter. Renaissance Technologies LLC now owns 337,100 shares of the company’s stock valued at $5,936,000 after purchasing an additional 249,600 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Infinity Natural Resources by 103.5% during the first quarter. Bank of America Corp DE now owns 325,748 shares of the company’s stock worth $5,736,000 after purchasing an additional 165,690 shares in the last quarter. Sei Investments Co. raised its position in shares of Infinity Natural Resources by 153.6% during the 1st quarter. Sei Investments Co. now owns 275,422 shares of the company’s stock worth $4,850,000 after purchasing an additional 166,810 shares during the last quarter. CI Investments Inc. raised its position in shares of Infinity Natural Resources by 3.3% during the 1st quarter. CI Investments Inc. now owns 275,132 shares of the company’s stock worth $4,845,000 after purchasing an additional 8,673 shares during the last quarter. Finally, Walleye Capital LLC lifted its stake in Infinity Natural Resources by 74.0% in the 1st quarter. Walleye Capital LLC now owns 146,557 shares of the company’s stock valued at $2,581,000 after buying an additional 62,343 shares in the last quarter.

Infinity Natural Resources Company Profile

Infinity Natural Resources is an independent energy company focused on acquiring, developing and producing oil and natural gas. Its operations are concentrated in the Appalachian Basin, where it produces natural gas, natural gas liquids and oil from formations including the Utica and Marcellus shale. Based in Morgantown, West Virginia, the company’s assets are located in the Appalachian region, including Ohio and Pennsylvania. Infinity was founded in 2017, and Zack Arnold serves as its president and chief executive officer.