Alta Mesa Resources (NASDAQ:AMR) Trading Down 5.6%

Alta Mesa Resources Inc (NASDAQ:AMR)’s share price dropped 5.6% during mid-day trading on Tuesday . The stock traded as low as $0.17 and last traded at $0.17, approximately 2,543,787 shares were traded during mid-day trading. A decline of 29% from the average daily volume of 3,594,216 shares. The stock had previously closed at $0.18.

AMR has been the subject of several analyst reports. ValuEngine lowered shares of Intersect ENT from a “buy” rating to a “hold” rating in a report on Monday, June 3rd. Zacks Investment Research upgraded shares of GCP Applied Technologies from a “sell” rating to a “hold” rating in a report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Alta Mesa Resources has a consensus rating of “Hold” and a consensus target price of $6.69.

The company has a fifty day moving average price of $0.16.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Apollo Management Holdings L.P. bought a new stake in Alta Mesa Resources during the 1st quarter valued at about $625,000. SG Americas Securities LLC lifted its holdings in Alta Mesa Resources by 289.0% during the 1st quarter. SG Americas Securities LLC now owns 499,336 shares of the company’s stock valued at $133,000 after buying an additional 370,956 shares in the last quarter. Sanders Morris Harris LLC lifted its holdings in Alta Mesa Resources by 37.2% during the 1st quarter. Sanders Morris Harris LLC now owns 1,459,800 shares of the company’s stock valued at $388,000 after buying an additional 396,100 shares in the last quarter. Deutsche Bank AG lifted its holdings in Alta Mesa Resources by 656.5% during the 4th quarter. Deutsche Bank AG now owns 1,658,320 shares of the company’s stock valued at $1,657,000 after buying an additional 1,439,097 shares in the last quarter. Finally, HRT Financial LLC bought a new stake in Alta Mesa Resources during the 4th quarter valued at about $45,000. Institutional investors own 49.12% 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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