Abraxas Petroleum Corporation [AXAS] Revenue clocked in at $58.60 million, up 28.82% YTD: What’s Next?

Abraxas Petroleum Corporation [NASDAQ: AXAS] surged by $0.48 during the normal trading session on Thursday and reaching a high of $3.50 during the day while it closed the day at $2.95. The company report on November 10, 2020 that Abraxas Petroleum Regains Compliance with Nasdaq Continued Listing Standards.

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Abraxas Petroleum Corporation (“Abraxas” or the “Company”) (NASDAQ:AXAS) announced that on November 2, 2020 it received a confirmation letter from The NASDAQ Stock Market LLC (“NASDAQ”) that it has regained compliance with Nasdaq Listing Rule 5550(a)(2), which requires a minimum average closing price of $1.00 per share over a period of 10 consecutive trading days. The letter also confirms that Nasdaq is closing the non-compliance matter.

Abraxas Petroleum Corporation is a San Antonio based crude oil and natural gas exploration and production company with operations across the Rocky Mountain and Permian Basin regions of the United States.

Abraxas Petroleum Corporation stock has also gained 8.46% of its value over the past 7 days. However, AXAS stock has inclined by 79.88% in the 3 months of the year. Over the past six months meanwhile, it has lost -29.49% and gained 28.82% year-on date.

The market cap for AXAS stock reached $25.10 million, with 8.36 million shares outstanding and 8.15 million shares in the current float. Compared to the average trading volume of 468.40K shares, AXAS reached a trading volume of 5290985 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Abraxas Petroleum Corporation [AXAS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AXAS shares is $3.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AXAS stock is a recommendation set at 3.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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 0.26, with the Price to Sales ratio for AXAS stock in the period of the last 12 months amounting to 0.43.

AXAS stock trade performance evaluation

Abraxas Petroleum Corporation [AXAS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.46. With this latest performance, AXAS shares gained by 16.14% in over the last four-week period, additionally sinking by -29.49% over the last 6 months – not to mention a drop of -43.68% 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 60.09, with the RSI for the last a single of trading hit 63.33, and the three-weeks RSI is set at 57.70 for Abraxas Petroleum Corporation [AXAS]. The present Moving Average for the last 50 days of trading for this stock 2.51, while it was recorded at 2.69 for the last single week of trading, and 3.51 for the last 200 days.

Abraxas Petroleum Corporation [AXAS]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Abraxas Petroleum Corporation [AXAS] shares currently have an operating margin of +19.80 and a Gross Margin at +28.56. Abraxas Petroleum Corporation’s Net Margin is presently recorded at -50.33.

Return on Total Capital for AXAS is now 7.91, given the latest momentum, and Return on Invested Capital for the company is -20.11. Return on Equity for this stock declined to -48.09, with Return on Assets sitting at -16.66. When it comes to the capital structure of this company, Abraxas Petroleum Corporation [AXAS] has a Total Debt to Total Equity ratio set at 186.19. Additionally, AXAS Total Debt to Total Capital is recorded at 65.06, with Total Debt to Total Assets ending up at 54.51. Long-Term Debt to Equity for the company is recorded at 185.82, with the Long-Term Debt to Total Capital now at 64.93.

Reflecting on the efficiency of the workforce at the company, Abraxas Petroleum Corporation [AXAS] managed to generate an average of -$1,000,062 per employee. Receivables Turnover for the company is 4.36 with a Total Asset Turnover recorded at a value of 0.33.Abraxas Petroleum Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.60.

Earnings per share (EPS) analysis for Abraxas Petroleum Corporation [AXAS] stock

With the latest financial reports released by the company, Abraxas Petroleum Corporation posted -0.4/share EPS, while the average EPS was predicted by analysts to be reported at 0.33/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -221.20%. 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%.

Abraxas Petroleum Corporation [AXAS]: Insider Ownership positions

There are presently around $3 million, or 11.00% of AXAS stock, in the hands of institutional investors. The top three institutional holders of AXAS stocks are: VANGUARD GROUP INC with ownership of 286,473, which is approximately -24.204% of the company’s market cap and around 2.98% of the total institutional ownership; BLACKROCK INC., holding 168,448 shares of the stock with an approximate value of $0.5 million in AXAS stocks shares; and SIGMA PLANNING CORP, currently with $0.19 million in AXAS stock with ownership of nearly 1.033% of the company’s market capitalization.

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Positions in Abraxas Petroleum Corporation stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 4 institutional holders increased their position in Abraxas Petroleum Corporation [NASDAQ:AXAS] by around 56,580 shares. Additionally, 53 investors decreased positions by around 464,835 shares, while 16 investors held positions by with 443,049 shares. The mentioned changes placed institutional holdings at 964,464 shares, according to the latest SEC report filing. AXAS stock had 3 new institutional investments in for a total of 4 shares, while 24 institutional investors sold positions of 223,557 shares during the same period.

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