Alta Mesa Resources (NASDAQ:AMR) Shares Gap Down to $0.08

Alta Mesa Resources Inc (NASDAQ:AMR) shares gapped down prior to trading on Friday . The stock had previously closed at $0.08, but opened at $0.08. Alta Mesa Resources shares last traded at $0.07, with a volume of 1,723,028 shares trading hands.

A number of research analysts have weighed in on AMR shares. Zacks Investment Research cut shares of Alta Mesa Resources from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine upgraded shares of Alta Mesa Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $4.25.

The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.15 and a current ratio of 0.15. The stock’s 50 day moving average is $0.12 and its 200 day moving average is $0.19.

Hedge funds and other institutional investors have recently bought and sold shares of the business. GSA Capital Partners LLP purchased a new stake in Alta Mesa Resources in the 2nd quarter worth approximately $49,000. SG Americas Securities LLC increased its holdings in shares of Alta Mesa Resources by 289.0% in the 1st quarter. SG Americas Securities LLC now owns 499,336 shares of the company’s stock worth $133,000 after buying an additional 370,956 shares during the last quarter. Apollo Management Holdings L.P. bought a new position in shares of Alta Mesa Resources in the 1st quarter worth $625,000. Wilks Brothers LLC bought a new position in shares of Alta Mesa Resources in the 2nd quarter worth $64,000. Finally, Vanguard Group Inc. increased its holdings in shares of Alta Mesa Resources by 87.9% in the 2nd quarter. Vanguard Group Inc. now owns 5,307,356 shares of the company’s stock worth $774,000 after buying an additional 2,482,834 shares during the last quarter. Institutional investors and hedge funds own 47.56% of the company’s stock.

Alta Mesa Resources Company Profile (NASDAQ:AMR)

Alta Mesa Resources, Inc focuses on the acquisition and development of unconventional oil and natural gas reserves in the Anadarko Basin. It also offers midstream energy services, including crude oil and gas gathering, processing, and marketing to producers of natural gas, natural gas liquids, crude oil, and condensate in the STACK Play region of Oklahoma.

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