Director, 10% Owner Bayou City Energy Management L acquired 311,111 shares in Alta Mesa Resources, Inc. (NASDAQ:AMR) for $4,133,911 in transaction occurred on 2018/09/07. After making this transaction, the Director, 10% Owner owns a direct stake of 1,471,555 shares, worth $6,614,258, as per the last closing price. On 2018/08/30 Bayou City Energy Management L, Director, 10% Owner at AMR, purchased 422,000 shares at an average price of $4.89 per share. The new stake is valued at $6,116,480.
Separately, it had been reported that some other AMR insiders also took part of the insider trading activity. Director, 10% Owner, Bayou City Energy Management L had invested in 3,400,800 shares for $3,400,800 through a trade on 2018/08/21. Following this activity, the insider holds 14,759,472 shares worth $5,441,280 as of recent close. Wall Street’s most bullish Alta Mesa Resources, Inc. (NASDAQ:AMR) analysts are predicting the share price to blow past $6 per share during the next 12 months. The current median share price forecast by them is $5.5, suggesting that the stock could increase 243.75% in that time frame. The average price target of $4.88 calls for a nearly 205% increase in the stock price.
Alta Mesa Resources, Inc. (AMR) trading activity significantly improved as the volume at ready counter increased to 3,466,300 shares versus 2,133,935 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 1,807,938 shares. The share price dropped -0.62% in recent trade and currently has a stock-market value of $309.12M. The shares finished at $1.6, after trading as low as $1.45 earlier in the session. It hit an intraday high Thursday at $1.63. The stock is now 5.96% above against its bear-market low of $1.51 on December 06, 2018. It has retreated -574.38% since it’s 52-week high of $10.79 reached in January. Now the market price is down -83.74% on the year and down -83.85% YTD.
AMR’s 50 day simple moving average (SMA 50) price is $3.09 and its 200-day simple moving average (SMA 200) price is $5.8. The company’s stock currently has a total float of 89.26M shares. Its weekly volatility is hovering around 11.76% and felt 10.12% volatility in price over a month. On the upside, the share price will test short term resistance at around $1.67. On a downside, the stock is likely to find some support, which begins at $1.49. The failure to get near-term support could push it to $1.38.
It had seen a negative analyst call from Goldman, which downgraded the stock from Buy to Neutral on November 27. Analysts at Imperial Capital, maintained the company shares at In-line on November 15 but switched target price from $8 to $6. The stock lost favor of Imperial Capital analysts who expressed their lack of confidence in it using a downgrade from Outperform to In-line on August 15.
Moreover, it trades for 3.09 times the next 12 months of expected earnings. Also, it is trading at rather inexpensive levels at just over 0.2x price/book and 0.92x price/sales. It’s also not liquid in the near term, with a current ratio of 0.6. The stock has a debt/capital of 0.47.
AMR last reported earnings on November 13, 2018 when it released Mar-18 results that receded expectations. The company raked in -$0.03 per share, -100.02% change on the same period last year. That was worse than consensus for $0.08. Revenue for the recent quarter stood at $153.65 million, up 102333% on last year and above the $138.61 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $142.56 million to $201.7 million, which should be compared with $0 generated last year. EPS is seen in a range of $0.06 to $0.08, against the 0 reported a year ago.