Falcon Minerals Corp (NASDAQ:FLMN) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 1,367,400 shares, a growth of 62.4% from the June 15th total of 842,200 shares. Approximately 3.6% of the company’s shares are short sold. Based on an average daily trading volume, of 256,000 shares, the short-interest ratio is presently 5.3 days.
In other Falcon Minerals news, Director Al J. Hirshberg bought 30,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was acquired at an average price of $8.00 per share, for a total transaction of $240,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.80% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the business. Iridian Asset Management LLC CT purchased a new stake in Falcon Minerals during the first quarter worth $877,000. Northern Trust Corp purchased a new stake in Falcon Minerals during the fourth quarter worth $572,000. Geode Capital Management LLC purchased a new stake in Falcon Minerals during the fourth quarter worth $3,288,000. BlackRock Inc. purchased a new stake in Falcon Minerals during the fourth quarter worth $471,000. Finally, Victory Capital Management Inc. purchased a new stake in Falcon Minerals during the first quarter worth $1,034,000. Institutional investors own 38.36% of the company’s stock.
Falcon Minerals stock traded up $0.01 during mid-day trading on Friday, reaching $7.90. 100,500 shares of the company were exchanged, compared to its average volume of 199,604. The firm’s fifty day moving average is $7.93. The company has a debt-to-equity ratio of 0.11, a quick ratio of 11.12 and a current ratio of 11.11. The firm has a market cap of $676.15 million, a price-to-earnings ratio of 39.50 and a beta of 0.34. Falcon Minerals has a 12-month low of $6.71 and a 12-month high of $11.70.
Falcon Minerals (NASDAQ:FLMN) last posted its earnings results on Monday, May 6th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The company had revenue of $21.26 million for the quarter, compared to analysts’ expectations of $20.49 million. As a group, equities research analysts predict that Falcon Minerals will post 0.47 EPS for the current fiscal year.
FLMN has been the subject of a number of research reports. Royal Bank of Canada reiterated a “neutral” rating and issued a $145.00 price target on shares of Travelers Companies in a report on Thursday, April 18th. Stifel Nicolaus boosted their price target on Workday from $175.00 to $195.00 and gave the company a “hold” rating in a report on Wednesday, May 29th. Northland Securities reiterated a “buy” rating and issued a $12.00 price target on shares of Medallion Financial in a report on Tuesday, May 7th. Robert W. Baird initiated coverage on Falcon Minerals in a report on Thursday, May 23rd. They issued an “outperform” rating and a $7.35 price target for the company. Finally, Citigroup set a $21.00 price target on Tanger Factory Outlet Centers and gave the company a “hold” rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $10.09.
About Falcon Minerals
Falcon Minerals Corporation acquires and owns mineral, royalty, and over-riding royalty interests in oil and natural gas properties in North America. It owns interests covering approximately 256,000 gross unit acres in the Eagle Ford Shale and Austin Chalk in Karnes, DeWitt, and Gonzales Counties in Texas, as well as approximately 68,000 gross unit acres in Pennsylvania, Ohio, and West Virginia that is prospective for the Marcellus Shale.
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