Short Interest in Ramaco Resources, Inc. (NASDAQ:METCB) Decreases By 31.3%

Ramaco Resources, Inc. (NASDAQ:METCB) was the recipient of a large decrease in short interest in March. As of March 13th, there was short interest totaling 44,164 shares, a decrease of 31.3% from the February 26th total of 64,276 shares. Based on an average trading volume of 34,570 shares, the days-to-cover ratio is presently 1.3 days. Approximately 0.1% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Ramaco Resources in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Ramaco Resources has a consensus rating of “Sell”.

Ramaco Resources Stock Performance

Shares of METCB traded up $0.10 on Friday, reaching $10.75. 51,490 shares of the company’s stock traded hands, compared to its average volume of 38,738. The stock’s 50 day simple moving average is $12.42 and its two-hundred day simple moving average is $13.54. The stock has a market cap of $721.54 million, a PE ratio of -10.75 and a beta of 1.03. Ramaco Resources has a 52-week low of $6.01 and a 52-week high of $22.11. The company has a current ratio of 5.46, a quick ratio of 4.66 and a debt-to-equity ratio of 0.95.

Ramaco Resources (NASDAQ:METCB) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.26) earnings per share (EPS) for the quarter. Ramaco Resources had a negative net margin of 9.59% and a negative return on equity of 11.36%. The business had revenue of $128.01 million during the quarter.

Institutional Trading of Ramaco Resources

A number of large investors have recently added to or reduced their stakes in the stock. J. Derek Lewis & Associates Inc. bought a new stake in Ramaco Resources in the fourth quarter worth about $274,000. XTX Topco Ltd purchased a new stake in shares of Ramaco Resources during the 4th quarter worth approximately $129,000. Millennium Management LLC increased its stake in shares of Ramaco Resources by 46.3% during the 4th quarter. Millennium Management LLC now owns 20,608 shares of the company’s stock worth $242,000 after purchasing an additional 6,519 shares during the last quarter. Yorktown Energy Partners XI L.P. raised its holdings in shares of Ramaco Resources by 1.4% in the 4th quarter. Yorktown Energy Partners XI L.P. now owns 1,252,527 shares of the company’s stock worth $14,717,000 after purchasing an additional 17,768 shares during the period. Finally, Yorktown Energy Partners IX L.P. lifted its stake in Ramaco Resources by 1.4% in the fourth quarter. Yorktown Energy Partners IX L.P. now owns 1,235,359 shares of the company’s stock valued at $14,515,000 after purchasing an additional 17,040 shares during the last quarter. Hedge funds and other institutional investors own 9.63% of the company’s stock.

About Ramaco Resources

Ramaco Resources (NASDAQ:METCB) is a U.S.-based coal company focused on the exploration, development and production of metallurgical and thermal coal. The company’s operations encompass both surface and underground mining in the central Appalachian Basin, where it seeks to capitalize on the region’s high-quality, low-ash coal reserves. Ramaco’s product portfolio includes metallurgical coking coal used in steelmaking, as well as steam coal for power generation, with an emphasis on meeting the exacting specifications of industrial customers.

Founded in 2014 and headquartered in Houston, Texas, Ramaco Resources has assembled a strategic acreage position in southern West Virginia and southwestern Pennsylvania.