With the current price of $3.65,the stock of Antero Resources Corporation (NYSE:AR) concluded the trading session seeing its price rise by 0.03 points or at a gain of 0.83% compared to its previous day’s closing price of $3.62. About 27.479 million shares of the stock changed hands on the day. The trading volume of AR’s shares during the past session compares with the stock’s average daily trading volume of 12.37 million shares. On the other hand,a float of 224 million shares and a weekly performance of -11.41% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $3.67 for AR’s share which suggests that the stock,price of which is currently buoying between $3.49 and $3.68,has a potential to gain 0.55%. But still,there are some analysts recommending a price below the agreed average price and one of them has given a target price of $1.75 to the stock.
The latest data released on July 31,2020 shows that the short float in the Antero Resources Corporation’s stock is trending downward as short interest in AR shares turned down leaving more number of shares available to public for trading. Number of shares shorted in the AR is currently comprised of 20.17% of the float. Over the past two weeks,stock’s short interests weakened as number of shorted shares increased to shares from the previous figure of shares.
After concluding the day’s trading,price of Antero Resources Corporation (NYSE:AR) is down -$0.49 over the week and it is $0.94 above 20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $4.64 that was attained on 08/14/20.
The stock has traded as low as $0.64 in past 52-week,and its current price is 472.1% above from that 52-week low price mark recorded on 03/30/20,which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 4.96. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.
Current indicators are pointing at 52.47 as 14-days RSI of Antero Resources Corporation. This means that the AR is currently in a neutral territory and its share’s price movement is likely to be steady for a while. Similarly,the stochastic oscillator is indicating a momentum of 58.6%,implying stock’s share price is buoying in a neutral state.
Technical chart is showing 1st resistance point of $3.71 for the AR’s share while placing it at a 2nd resistance point of $3.79 to be settled at. But if the stock takes a plunge lower than the 1st support price of $3.52 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $3.41.
MACD oscillator is showing a reading of -0.12 for the stock which means that it is currently in the red zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average,which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.
MKM Partners lifted its recommendation for AR stock from Sell to Neutral in a review note dated July 15,and moved the price target up at $3. The stock gets its recommendation downgraded from Buy to Hold from the analysts at Stifel who assigned a target price of $4 to $1 in their March 31 note to investors.TD Securitiesanalysts downgraded their recommendation from Buy to Hold on March 13,while assigning a price target of $1.3.
The average rating of 3.29 for AR is placing the stock in bearish category at the moment. In a poll by Reuters including 13 analysts in it who kept tracking the Antero Resources Corporation,9 rated the stock as hold. Others were in different opinions for the AR. Out of remaining 4 analysts,0 rated the stock as a buy or strong buy. 4 were in favor of a sell rating for the stock while advising investors to shun the stock if they already have any or otherwise not to buy it.
Projection by Zacks Consensus Estimates suggests that Antero Resources Corporation (NYSE:AR) will see its current-quarter revenues drop by nearly -99.7% to be decreased to about $1010 million. Full-year revenue of the company is however forecasted to be fell to nearly -11.11% to bring $3920 million in revenues against last year revenue of $4410 million. Earnings,after adjustments,are likely to fell by -79.59% to post an EPS of -$0.1,while estimate for company’s full year earnings is -$0.36 per share with a growth rate of 300%.