Approach Resources Inc. (NASDAQ:AREX) reached a new 52-week low during trading on Thursday . The company traded as low as $1.21 and last traded at $1.22, with a volume of 3000 shares. The stock had previously closed at $1.30.

A number of equities research analysts have commented on the stock. KLR Group restated a “hold” rating and set a $3.00 target price on shares of Approach Resources in a research note on Monday, August 20th. Zacks Investment Research upgraded shares of Approach Resources from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a research note on Tuesday, September 18th.

The company has a market capitalization of $122.86 million, a P/E ratio of -3.42 and a beta of 2.79. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.64.

Approach Resources (NASDAQ:AREX) last released its earnings results on Thursday, November 8th. The energy company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. Approach Resources had a net margin of 20.85% and a negative return on equity of 4.04%. The company had revenue of $32.56 million for the quarter, compared to analysts’ expectations of $30.07 million. On average, equities analysts forecast that Approach Resources Inc. will post -0.24 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP grew its holdings in Approach Resources by 83.1% during the 2nd quarter. GSA Capital Partners LLP now owns 200,306 shares of the energy company’s stock valued at $489,000 after buying an additional 90,900 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Approach Resources by 49.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 265,861 shares of the energy company’s stock valued at $649,000 after buying an additional 88,295 shares in the last quarter. Bridgeway Capital Management Inc. grew its holdings in Approach Resources by 4.4% during the 3rd quarter. Bridgeway Capital Management Inc. now owns 1,008,400 shares of the energy company’s stock valued at $2,249,000 after buying an additional 42,600 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in Approach Resources by 11.5% during the 2nd quarter. BlackRock Inc. now owns 3,504,971 shares of the energy company’s stock valued at $8,551,000 after buying an additional 361,169 shares in the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.

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Approach Resources Company Profile (NASDAQ:AREX)

Approach Resources, Inc, an independent energy company, focuses on the acquisition, exploration, development, and production of unconventional oil and gas reserves in the United States. The company's properties are primarily located in the Permian Basin in west Texas. It also owns interests in east Texas Basin.

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