Archaea Energy Inc. (NYSE:LFG) Short Interest Update

Archaea Energy Inc. (NYSE:LFGGet Rating) was the target of a large drop in short interest in June. As of June 15th, there was short interest totalling 2,660,000 shares, a drop of 25.9% from the May 31st total of 3,590,000 shares. Currently, 3.4% of the company’s stock are sold short. Based on an average daily volume of 1,350,000 shares, the days-to-cover ratio is currently 2.0 days.

NYSE:LFG traded down $0.18 during midday trading on Monday, reaching $15.35. The stock had a trading volume of 124,088 shares, compared to its average volume of 1,155,211. Archaea Energy has a 1-year low of $14.30 and a 1-year high of $23.75. The firm’s fifty day simple moving average is $19.48 and its 200-day simple moving average is $19.10.

Archaea Energy (NYSE:LFGGet Rating) last posted its earnings results on Tuesday, May 10th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.08. The firm had revenue of $56.90 million during the quarter, compared to analyst estimates of $65.80 million. The company’s revenue was up 3456.3% on a year-over-year basis. As a group, analysts anticipate that Archaea Energy will post 0.42 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Ovata Capital Management Ltd acquired a new stake in Archaea Energy in the 1st quarter worth $26,000. Royal Bank of Canada grew its position in Archaea Energy by 5.9% in the 1st quarter. Royal Bank of Canada now owns 26,735 shares of the company’s stock worth $586,000 after purchasing an additional 1,485 shares during the last quarter. Principal Financial Group Inc. grew its position in Archaea Energy by 11.7% in the 1st quarter. Principal Financial Group Inc. now owns 14,980 shares of the company’s stock worth $329,000 after purchasing an additional 1,570 shares during the last quarter. Advisors Asset Management Inc. acquired a new stake in Archaea Energy in the 1st quarter worth $64,000. Finally, Wade G W & Inc. grew its position in Archaea Energy by 19.6% in the 4th quarter. Wade G W & Inc. now owns 23,630 shares of the company’s stock worth $432,000 after purchasing an additional 3,880 shares during the last quarter. Institutional investors and hedge funds own 55.87% of the company’s stock.

A number of research analysts have recently weighed in on LFG shares. Stifel Nicolaus started coverage on shares of Archaea Energy in a report on Monday, March 7th. They set a “buy” rating and a $37.00 price target on the stock. Barclays started coverage on shares of Archaea Energy in a report on Friday, June 17th. They set an “overweight” rating and a $26.00 price target on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Archaea Energy currently has a consensus rating of “Buy” and an average target price of $28.80.

Archaea Energy Company Profile (Get Rating)

Archaea Energy Inc operates as a renewable natural gas (RNG) and renewable electricity producer in the United States. It owns and operates a diversified portfolio of 23 landfill gas recovery and processing projects across 12 states, including 13 projects that collectively generate approximately 177.3 MW of electric capacity and 10 projects that have capacity to produce approximately 27,480 million of British thermal units per day of pipeline-quality RNG.

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