Tamboran Resources Corp (NYSE:TBN) Short Interest Down 13.8% in December

Tamboran Resources Corp (NYSE:TBN) was the target of a large decline in short interest in December. As of December 31st, there was short interest totalling 33,600 shares, a decline of 13.8% from the December 15th total of 39,000 shares. Based on an average daily trading volume, of 15,300 shares, the short-interest ratio is presently 2.2 days. Approximately 0.4% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $31.00 target price on shares of Tamboran Resources in a report on Thursday, January 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $41.00 price objective on shares of Tamboran Resources in a research note on Monday, December 23rd.

Institutional Investors Weigh In On Tamboran Resources

A number of large investors have recently modified their holdings of the stock. Atom Investors LP acquired a new position in Tamboran Resources during the 3rd quarter worth approximately $351,000. Ingalls & Snyder LLC acquired a new position in shares of Tamboran Resources during the third quarter worth $1,287,000. The Manufacturers Life Insurance Company purchased a new position in shares of Tamboran Resources in the third quarter valued at $1,930,000. Yaupon Capital Management LP grew its holdings in Tamboran Resources by 7.2% during the 3rd quarter. Yaupon Capital Management LP now owns 139,355 shares of the company’s stock valued at $2,832,000 after purchasing an additional 9,355 shares in the last quarter. Finally, Edge Capital Group LLC acquired a new stake in Tamboran Resources during the 2nd quarter valued at $4,687,000.

Tamboran Resources Stock Down 1.0 %

NYSE TBN traded down $0.21 during trading hours on Friday, hitting $21.43. The company had a trading volume of 7,142 shares, compared to its average volume of 13,177. The business’s 50 day moving average is $18.76. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.03. Tamboran Resources has a fifty-two week low of $15.75 and a fifty-two week high of $25.99.

About Tamboran Resources

Tamboran Resources Corporation, a natural gas company, focuses on developing unconventional gas resources in the northern territory of Australia. Its assets include a 25% non-operated working interest in EP 161; a 38.75% working interest in EPs 76, 98, and 117; and a 100% working interest in EPs 136 and 143, as well as EP (A) 197, located in the Betaloo Basin.