Montage Resources Corp (NYSE:MR) Short Interest Down 91.9% in March

Montage Resources Corp (NYSE:MR) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 1,049,380 shares, a drop of 91.9% from the February 28th total of 13,008,413 shares. Based on an average trading volume of 131,959 shares, the short-interest ratio is presently 8.0 days. Currently, 19.2% of the company’s stock are sold short.

A hedge fund recently bought a new stake in Montage Resources stock. Prime Capital Investment Advisors LLC acquired a new stake in Montage Resources Corp (NYSE:MR) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 10,650 shares of the medical instruments supplier’s stock, valued at approximately $160,000.

A number of research firms have recently issued reports on MR. ValuEngine downgraded shares of Montage Resources from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Zacks Investment Research upgraded shares of Montage Resources from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Tuesday, April 16th.

NYSE:MR traded down $0.68 during mid-day trading on Wednesday, hitting $12.30. The stock had a trading volume of 920 shares, compared to its average volume of 97,596. The company has a market cap of $467.36 million, a PE ratio of -20.50 and a beta of 2.03. Montage Resources has a 52 week low of $11.10 and a 52 week high of $29.40. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.77.

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About Montage Resources

Montage Resources Corporation operates as an oil and natural gas exploration and production company. As of December 31, 2018, it had an acreage position comprising approximately 241,000 net acres in Ohio and Pennsylvania; and had estimated proved reserves of 1,864.7 billion cubic feet of natural gas equivalent.

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