Archaea Energy Inc. (NYSE:LFG – Get 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:LFG – Get 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.
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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