Primeenergy Resources Corp (NASDAQ:PNRG) Short Interest Up 38.3% in September

Primeenergy Resources Corp (NASDAQ:PNRG) saw a significant growth in short interest in September. As of September 15th, there was short interest totalling 6,500 shares, a growth of 38.3% from the August 31st total of 4,700 shares. Based on an average daily volume of 900 shares, the short-interest ratio is currently 7.2 days. Approximately 1.3% of the shares of the stock are short sold.

Shares of NASDAQ:PNRG traded up $2.36 during midday trading on Thursday, hitting $71.40. The company had a trading volume of 1,115 shares, compared to its average volume of 1,665. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.01. Primeenergy Resources has a 12 month low of $47.68 and a 12 month high of $170.99. The firm has a fifty day simple moving average of $70.07 and a 200 day simple moving average of $71.82.

Primeenergy Resources (NASDAQ:PNRG) last released its quarterly earnings data on Monday, June 29th. The oil and natural gas company reported ($0.09) EPS for the quarter. Primeenergy Resources had a negative net margin of 6.93% and a negative return on equity of 5.47%. The company had revenue of $26.11 million during the quarter.

Separately, TheStreet lowered shares of Primeenergy Resources from a “c+” rating to a “d+” rating in a report on Wednesday, September 2nd.

In related news, Director Gaines Wehrle sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $69.08, for a total value of $69,080.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 3,234 shares of company stock worth $227,697 over the last quarter. 58.55% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN raised its position in shares of Primeenergy Resources by 1,261.7% in the 1st quarter. Wells Fargo & Company MN now owns 640 shares of the oil and natural gas company’s stock valued at $47,000 after acquiring an additional 593 shares during the period. State Street Corp increased its stake in Primeenergy Resources by 7.5% in the first quarter. State Street Corp now owns 8,478 shares of the oil and natural gas company’s stock valued at $627,000 after purchasing an additional 589 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Primeenergy Resources by 25.6% in the first quarter. JPMorgan Chase & Co. now owns 849 shares of the oil and natural gas company’s stock worth $63,000 after purchasing an additional 173 shares during the period. Bridgeway Capital Management Inc. bought a new position in shares of Primeenergy Resources during the second quarter worth $242,000. Finally, UBS Group AG grew its holdings in shares of Primeenergy Resources by 49.3% in the 2nd quarter. UBS Group AG now owns 1,160 shares of the oil and natural gas company’s stock valued at $82,000 after buying an additional 383 shares during the period. Institutional investors own 6.27% of the company’s stock.

Primeenergy Resources Company Profile

PrimeEnergy Resources Corporation, an independent oil and natural gas company, through its subsidiaries, engages in acquiring, developing, and producing oil and natural gas properties in the United States. It also acquires producing oil and gas properties through joint ventures with industry partners; and provides contract services to third parties, including well-servicing support operations, site-preparation, and construction services for oil and gas drilling and reworking operations.

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