Abraxas Petroleum Corporation (NASDAQ:AXAS) does about 8.23M shares in volume on a normal day but saw 7668790 shares change hands in Friday trading. The company now has a market cap of 31.75M USD and an enterprise value of about $235.29M. Its current market price is $0.20, marking an increase of 7.32% compared to the previous close of $0.19. The 52 week high reached by this stock is $0.68 whilst the lowest price level in 52 weeks is $0.09. The script in recent trading has seen the stock touch a high of $0.2049 and a low of $0.1846.
Abraxas Petroleum Corporation (AXAS) has a 20-day trading average at $0.1939 and the current price is -70.25% off the 52-week high compared with 124.78% distance from its 52-week low. The 50-day simple moving average of the closing price is $0.2155 and its 200-day simple moving average is $0.2336. If we look at the stock’s price movements over the week, volatility stands at 13.06%, which decreases to 8.93% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 51.20 to suggest the stock is neutral.
2 analysts observing the Abraxas Petroleum Corporation (AXAS) stock have set the 12-month price targets for the company’s shares at between $0.10 and $0.53. The median price target is 20.0% away from the current levels at $0.25.
FactSet Research has provided data showing that 2 brokerages have issued ratings for the stock. 1 analysts have rated it as a sell, while 0 advise that it is a overweight. 0 analysts have rated it as a buy and 1 have advised that investors hold their positions. The consensus recommendation rating is Underweight and Wall Street’s advice is for investors to Hold the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on March 10, 2020 when Canaccord Genuity downgraded the stock to “Hold” and issued a price target of. Stifel also downgraded the stock to “Hold” from Buy on March 09, 2020 at a price target of.
The current price level is 4.32%, -6.88%, and -13.62% away from its SMA20, SMA50, and SMA200 respectively, with the AXAS price moving above the 50-day SMA on August 28. Abraxas Petroleum Corporation (AXAS) stock is up 14.55% over the week and -2.74% over the past month. Its price is -42.38% year-to-date and -62.62% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2020, with the company’s earnings per share (EPS) of -$0.07 below consensus estimates by -$0.08. The company’s next earnings report is expected on 08/31/2020, with forecasts estimating quarterly EPS at -$0.02 and -$0.13 for whole year. AXAS’s earnings per share are forecast to shrink by -425.00% this year and 23.10% over next year. Expected sales for next quarter are $14.45 million, which analysts say will come at $47 million for the current fiscal year and next year at $51.05 million. In addition, estimates put the company’s current quarterly revenue at an average of $14.65 million.
Its 12-month price target is $0.25. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $0.10, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $0.53.
Outstanding shares total 167.24M with insiders holding 2.98% of the shares and institutional holders owning 39.06% of the company’s common stock. The company has a return on investment of -8.70% and return on equity of -77.00%. The beta has a value of 3.46. Price to book ratio is 0.55 and price to sales ratio is 0.41.
According to a U.S. Securities and Exchange Commission filing, Vanguard Total Stock Market Index has reduced its position in Abraxas Petroleum Corporation (AXAS) to 4,761,451 shares, mirroring a recent drop by 0.00%. Vanguard Total Stock Market Index dumped 0.0 shares of Abraxas Petroleum Corporation common stock bringing its total worth to about $0.96 million at the end of recent close, SEC documents show. Vanguard Total Stock Market Index isn’t the only investment manager who changed stakes and is followed by Vanguard Extended Market Index Fu, which sold off 0.0 shares to end up with 2,401,966 shares worth $0.49 million. Invesco FTSE RAFI US 1500 Small M cut their holdings by -0.40% in the company over the course of the most recent quarter. It now holds a 0.62% position in Abraxas Petroleum Corporation thanks to 1.05 million shares amounting to $0.21 million.