Ramaco Resources, Inc. (NASDAQ:METCB) Sees Significant Drop in Short Interest

Ramaco Resources, Inc. (NASDAQ:METCB) was the target of a significant decline in short interest in February. As of February 13th, there was short interest totaling 61,930 shares, a decline of 27.6% from the January 29th total of 85,579 shares. Based on an average daily volume of 47,126 shares, the short-interest ratio is presently 1.3 days. Approximately 0.1% of the company’s stock are short sold. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 47,126 shares, the short-interest ratio is presently 1.3 days.

Hedge Funds Weigh In On Ramaco Resources

A number of hedge funds have recently bought and sold shares of METCB. South Dakota Investment Council increased its holdings in Ramaco Resources by 1.4% in the fourth quarter. South Dakota Investment Council now owns 86,696 shares of the company’s stock valued at $1,019,000 after buying an additional 1,227 shares during the last quarter. MCF Advisors LLC acquired a new position in shares of Ramaco Resources in the 3rd quarter worth approximately $27,000. Acuitas Investments LLC increased its holdings in shares of Ramaco Resources by 1.2% in the 3rd quarter. Acuitas Investments LLC now owns 182,621 shares of the company’s stock valued at $3,077,000 after acquiring an additional 2,163 shares during the last quarter. Bank of America Corp DE raised its position in shares of Ramaco Resources by 574.4% during the 3rd quarter. Bank of America Corp DE now owns 3,190 shares of the company’s stock valued at $54,000 after acquiring an additional 2,717 shares in the last quarter. Finally, State Street Corp lifted its stake in Ramaco Resources by 14.3% during the fourth quarter. State Street Corp now owns 30,637 shares of the company’s stock worth $360,000 after purchasing an additional 3,831 shares during the last quarter. 9.63% of the stock is currently owned by institutional investors and hedge funds.

Ramaco Resources Stock Performance

Ramaco Resources stock opened at $11.78 on Friday. 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 2.97, a quick ratio of 2.24 and a debt-to-equity ratio of 0.24. The stock has a market cap of $777.48 million, a P/E ratio of -11.78 and a beta of 0.96. The stock has a 50 day moving average of $12.70 and a 200-day moving average of $14.18.

Ramaco Resources (NASDAQ:METCB) last posted its quarterly earnings results 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 11.77%. The company had revenue of $128.01 million during the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ramaco Resources in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Ramaco Resources has an average rating of “Sell”.

Ramaco Resources Company Profile

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.