CNX Resources Corporation [NYSE: CNX] plunged by -$0.23 during the normal trading session on Wednesday and reaching a high of $15.91 during the day while it closed the day at $15.76. The company report on January 24, 2023 that CNX and ICE Thermal Harvesting Launch Pilot Program Generating Zero-Emission, Appalachian-Sourced Power.
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Innovative Technology Partnership Seeks to Eliminate Emissions While Enhancing Power Reliability.
CNX Resources Corporation (NYSE: CNX) and ICE Thermal Harvesting, LLC (ICE) have partnered on a pilot project to generate 100% emission-free, locally-sourced power for use in CNX’s operations, the companies announced today.
CNX Resources Corporation stock has also loss -1.87% of its value over the past 7 days. However, CNX stock has declined by -10.86% in the 3 months of the year. Over the past six months meanwhile, it has lost -18.68% and lost -6.41% year-on date.
The market cap for CNX stock reached $2.78 billion, with 187.51 million shares outstanding and 174.80 million shares in the current float. Compared to the average trading volume of 2.95M shares, CNX reached a trading volume of 3413655 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 CNX Resources Corporation [CNX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CNX shares is $21.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CNX stock is a recommendation set at 3.20. 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.
Mizuho have made an estimate for CNX Resources Corporation shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on January 10, 2023. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $25 to $23. The new note on the price target was released on September 19, 2022, representing the official price target for CNX Resources Corporation stock. Previously, the target price had yet another raise to $25, while Scotiabank analysts kept a Sector Perform rating on CNX stock.
The Average True Range (ATR) for CNX Resources Corporation is set at 0.57, with the Price to Sales ratio for CNX stock in the period of the last 12 months amounting to 0.72. The Price to Book ratio for the last quarter was 1.50, with the Price to Cash per share for the same quarter was set at 0.01. Price to Free Cash Flow for CNX in the course of the last twelve months was 5.18 with Quick ratio for the last quarter at 0.30.
CNX stock trade performance evaluation
CNX Resources Corporation [CNX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.87. With this latest performance, CNX shares dropped by -5.00% in over the last four-week period, additionally sinking by -18.68% over the last 6 months – not to mention a rise of 5.21% 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 CNX stock in for the last two-week period is set at 41.10, with the RSI for the last a single of trading hit 37.42, and the three-weeks RSI is set at 43.09 for CNX Resources Corporation [CNX]. The present Moving Average for the last 50 days of trading for this stock 16.82, while it was recorded at 16.20 for the last single week of trading, and 17.99 for the last 200 days.
CNX Resources Corporation [CNX]: An insightful look at the core fundamentals
CNX Resources Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.30.
Earnings per share (EPS) analysis for CNX Resources Corporation [CNX] stock
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 CNX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for CNX Resources Corporation go to 41.60%.
CNX Resources Corporation [CNX]: Insider Ownership positions
There are presently around $2,739 million, or 97.50% of CNX stock, in the hands of institutional investors. The top three institutional holders of CNX stocks are: BLACKROCK INC. with ownership of 22,808,391, which is approximately -2.635% of the company’s market cap and around 3.19% of the total institutional ownership; VANGUARD GROUP INC, holding 18,448,774 shares of the stock with an approximate value of $290.75 million in CNX stocks shares; and SOUTHEASTERN ASSET MANAGEMENT INC/TN/, currently with $239.16 million in CNX stock with ownership of nearly -4.009% of the company’s market capitalization.
122 institutional holders increased their position in CNX Resources Corporation [NYSE:CNX] by around 12,741,977 shares. Additionally, 176 investors decreased positions by around 20,230,838 shares, while 42 investors held positions by with 140,818,515 shares. The mentioned changes placed institutional holdings at 173,791,330 shares, according to the latest SEC report filing. CNX stock had 34 new institutional investments in for a total of 5,200,221 shares, while 31 institutional investors sold positions of 2,967,285 shares during the same period.