Alta Mesa Resources Inc (NASDAQ:AMR) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 4,399,575 shares, a growth of 259.0% from the February 15th total of 1,225,614 shares. Based on an average daily volume of 2,537,281 shares, the days-to-cover ratio is currently 1.7 days.
AMR traded down $0.64 on Monday, hitting $7.36. 1,459,081 shares of the company’s stock traded hands, compared to its average volume of 2,778,098. Alta Mesa Resources has a one year low of $7.15 and a one year high of $10.79.
Separately, Imperial Capital assumed coverage on Alta Mesa Resources in a research note on Monday, March 5th. They set an “outperform” rating and a $10.00 target price on the stock.
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About Alta Mesa Resources
Alta Mesa Resources, Inc, formerly Silver Run Acquisition Corporation II, is an oil and gas exploration company. The Company is focused on the development and acquisition of unconventional oil and gas reserves in Oklahoma. Its exploration operations are located in the eastern portion of the Anadarko basin, and are referred to as Sooner Trend Anadarko Basin Canadian and Kingfisher County (STACK).
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