Alta Mesa Resources Inc (NASDAQ:AMR) Short Interest Up 25.0% in July
Alta Mesa Resources Inc (NASDAQ:AMR) was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 16,577,400 shares, an increase of 25.0% from the June 30th total of 13,264,900 shares. Based on an average daily trading volume, of 4,320,000 shares, the days-to-cover ratio is currently 3.8 days. Currently, 15.2% of the company’s stock are short sold.
A number of hedge funds have recently modified their holdings of AMR. GSA Capital Partners LLP purchased a new position in shares of Alta Mesa Resources during the 2nd quarter worth $49,000. Jane Street Group LLC purchased a new position in shares of Alta Mesa Resources during the 4th quarter worth $59,000. D. E. Shaw & Co. Inc. purchased a new position in shares of Alta Mesa Resources during the 4th quarter worth $60,000. Paloma Partners Management Co boosted its stake in shares of Alta Mesa Resources by 372.2% during the 2nd quarter. Paloma Partners Management Co now owns 434,665 shares of the company’s stock worth $63,000 after acquiring an additional 342,622 shares during the last quarter. Finally, Wilks Brothers LLC purchased a new position in shares of Alta Mesa Resources during the 2nd quarter worth $64,000. Institutional investors own 48.91% of the company’s stock.
Several equities research analysts recently issued reports on AMR shares. ValuEngine upgraded shares of Alta Mesa Resources from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research upgraded shares of Alta Mesa Resources from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $6.69.
Alta Mesa Resources Company Profile
Alta Mesa Resources, Inc focuses on the acquisition and development of unconventional oil and natural gas reserves in the Anadarko Basin. It also offers midstream energy services, including crude oil and gas gathering, processing, and marketing to producers of natural gas, natural gas liquids, crude oil, and condensate in the STACK Play region of Oklahoma.
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