Abraxas Petroleum Corporation [AXAS] Revenue clocked in at $77.50 million, down -72.23% YTD: What’s Next?

Abraxas Petroleum Corporation [NASDAQ: AXAS] loss -10.96% or -0.24 points to close at $1.95 with a heavy trading volume of 1138081 shares. The company report on August 18, 2020 that Abraxas Recommences Strategic Alternatives Review.

Abraxas Petroleum Corporation (“Abraxas” or the “Company”) (NASDAQ:AXAS) today announced that its Board of Directors has determined to renew the strategic alternatives review announced last October and led by Petrie Partners, LLC (“Petrie”).

“Petrie has been a great partner for Abraxas in the past,” said Bob Watson, Abraxas CEO. “Now that we have successfully amended our agreements with Angelo Gordon and our banks, we look forward to working with Petrie to examine ways to optimize value. Our strong, concentrated asset bases in the Delaware and Williston Basins, as well as our excellent hedge book, position Abraxas for success on a standalone basis and also make us an attractive transaction partner.” Petrie’s Jon Hughes and Richard Moss will lead the engagement.

It opened the trading session at $2.25, the shares rose to $2.38 and dropped to $1.86, the range by which the price of stock traded the whole day. The daily chart for AXAS points out that the company has recorded -25.06% loss over the past six months. However, it is still -8.33% lower than its most recent low trading price.

If we look at the average trading volume of 417.91K shares, AXAS reached to a volume of 1138081 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Abraxas Petroleum Corporation [AXAS]:

Canaccord Genuity have made an estimate for Abraxas Petroleum Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 10, 2020. The new note on the price target was released on March 09, 2020, representing the official price target for Abraxas Petroleum Corporation stock.

The Average True Range (ATR) for Abraxas Petroleum Corporation is set at 0.41, with the Price to Sales ratio for AXAS stock in the period of the last 12 months amounting to 4.51. The Price to Book ratio for the last quarter was 5.27, with the Price to Cash per share for the same quarter was set at 0.00.

Trading performance analysis for AXAS stock

Abraxas Petroleum Corporation [AXAS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -36.97. With this latest performance, AXAS shares dropped by -39.06% in over the last four-week period, additionally sinking by -25.06% over the last 6 months – not to mention a drop of -69.53% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AXAS stock in for the last two-week period is set at 28.55, with the RSI for the last a single of trading hit 21.92, and the three-weeks RSI is set at 32.00 for Abraxas Petroleum Corporation [AXAS]. The present Moving Average for the last 50 days of trading for this stock 3.3063, while it was recorded at 2.6460 for the last single week of trading, and 4.1362 for the last 200 days.

Abraxas Petroleum Corporation [AXAS]: A deeper dive into fundamental analysis

Abraxas Petroleum Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

Abraxas Petroleum Corporation [AXAS]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Abraxas Petroleum Corporation posted 0.02/share EPS, while the average EPS was predicted by analysts to be reported at 0.03/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -33.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AXAS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Abraxas Petroleum Corporation go to 2.00%.

An analysis of insider ownership at Abraxas Petroleum Corporation [AXAS]

There are presently around $3 million, or 16.60% of AXAS stock, in the hands of institutional investors. The top three institutional holders of AXAS stocks are: VANGUARD GROUP INC with ownership of 377,952, which is approximately -4.521% of the company’s market cap and around 2.98% of the total institutional ownership; BLACKROCK INC., holding 168,707 shares of the stock with an approximate value of $0.33 million in AXAS stocks shares; and SQUAREPOINT OPS LLC, currently with $0.13 million in AXAS stock with ownership of nearly New of the company’s market capitalization.

29 institutional holders increased their position in Abraxas Petroleum Corporation [NASDAQ:AXAS] by around 334,790 shares. Additionally, 56 investors decreased positions by around 1,371,711 shares, while 20 investors held positions by with 331,093 shares. The mentioned changes placed institutional holdings at 1,375,408 shares, according to the latest SEC report filing. AXAS stock had 19 new institutional investments in for a total of 247,279 shares, while 32 institutional investors sold positions of 536,491 shares during the same period.

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