Gastar Exploration Inc (NYSEAMERICAN:GST) Sees Significant Drop in Short Interest

Gastar Exploration Inc (NYSEAMERICAN:GST) was the recipient of a significant drop in short interest in December. As of December 29th, there was short interest totalling 19,613,836 shares, a drop of 2.8% from the December 15th total of 20,170,317 shares. Approximately 9.7% of the shares of the stock are sold short. Based on an average daily volume of 1,351,818 shares, the days-to-cover ratio is currently 14.5 days.

Several equities analysts have weighed in on the company. Zacks Investment Research upgraded Gastar Exploration from a “hold” rating to a “buy” rating and set a $1.50 price target for the company in a report on Wednesday. Seaport Global Securities raised Gastar Exploration from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 19th. KeyCorp reaffirmed a “hold” rating on shares of Gastar Exploration in a research note on Monday, November 13th. Finally, ValuEngine raised Gastar Exploration from a “strong sell” rating to a “sell” rating in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $1.82.

Gastar Exploration (NYSEAMERICAN GST) opened at $1.24 on Thursday. Gastar Exploration has a one year low of $0.38 and a one year high of $2.19. The firm has a market capitalization of $286.81, a price-to-earnings ratio of -5.17 and a beta of 3.48.

Gastar Exploration (NYSEAMERICAN:GST) last announced its earnings results on Wednesday, November 8th. The energy company reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.01). The company had revenue of $15.30 million during the quarter, compared to analysts’ expectations of $20.06 million. Gastar Exploration’s revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) EPS.

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About Gastar Exploration

Gastar Exploration Ltd (Gastar) is an independent energy company engaged in the exploration, development and production of natural gas and oil in the United States. The Company’s principal business activities include the identification, acquisition, and subsequent exploration and development of natural gas and oil properties with an emphasis on unconventional reserves, such as shale resource plays.

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