Stocks Hitting New Technical Facts: Approach Resources, Inc. (NASDAQ:AREX)

Marco Green
January 13, 2018

Approach Resources presently has an average rating of "Hold" and an average price target of $3.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Approach Resources, Inc. (NASDAQ:AREX) has risen 23.01% since January 12, 2017 and is uptrending.

Approach Resources Incorporated (NASDAQ:AREX) had a decrease of 0.29% in short interest. Finally, Parametric Portfolio Associates LLC grew its position in shares of Approach Resources by 14.6% in the second quarter. The shares were bought at an average cost of $3.20 per share, for a total transaction of $480,000.00. ValuEngine cut shares of Approach Resources from a "sell" rating to a "strong sell" rating in a research note on Friday, September 1st.

On Wednesday, December 26th, Wilks Brothers, Llc purchased 150,000 shares of Approach Resources stock. While the stock price moved along with the volume change, shares are touching $4.03.

On Wednesday, December 27th, Wilks Brothers, Llc bought 350,000 shares of Approach Resources stock. (AREX), there were 12 new positions totaling 2,349,578 shares of the company's stock.

On Wednesday, December 6th, Wilks Brothers, Llc acquired 29,285 shares of Approach Resources stock. At present, 1 analysts recommended Holding these shares while 2 recommended sell, according to FactSet data.

On Monday, December 18th, Wilks Brothers, Llc bought 550,000 shares of Approach Resources stock.

On Monday, December 11th, Wilks Brothers, Llc bought 50,000 shares of Approach Resources stock. The stock was bought at an average price of $2.59 per share, for a total transaction of $1,424,500.00. (NASDAQ:AREX) have caught the attention of investors.

Taking a look at a stock's average volume - in the long, medium and short terms - is helpful for understanding investor sentiment and trading activity. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.41 and a quick ratio of 0.41. However the low revenue estimates for the company are $26.5 Million versus high revenue estimates of $30.33 Million. The stock has a market capitalization of $338.27, a P/E ratio of -1.55 and a beta of 2.67. (NASDAQ:AREX). Barclays Pcl holds 0% of its portfolio in Approach Resources, Inc. The Return on Equity (ROE) value stands at -31%. The difference between the expected and actual EPS was $0.01/share, which represents an Earnings surprise of 11.1%.

Several institutional investors have recently made changes to their positions in AREX. Parametric Portfolio Associates LLC lifted its stake in shares of Approach Resources by 14.6% in the 2nd quarter. Where the relative strength index (RSI) is a technical momentum indicator that compares the magnitude of recent gains to recent losses in an attempt to determine excess buying & selling conditions of an asset, it is one of the most popular technical indicators, computed on the basis of the speed and direction of a stock's price movement. State Street Corp boosted its position in shares of Approach Resources by 2,151.6% during the 2nd quarter. RBC Capital Markets maintained Approach Resources, Inc. Rhumbline Advisers acquired a new position in shares of Approach Resources during the second quarter valued at approximately $157,000. Corporate insiders own 5.10% of the company's stock. Its down 0.29% from 8.15 million shares previously. Vanguard Group Inc. now owns 1,959,374 shares of the energy company's stock worth $6,603,000 after purchasing an additional 347,986 shares in the last quarter. Macquarie Research downgraded the shares of AREX in report on Wednesday, September 9 to "Neutral" rating. KeyCorp reissued a "hold" rating on shares of Approach Resources in a research note on Thursday, October 12th. (NASDAQ:AREX) to report earnings on March, 8. Analysts reported that the Price Target for Approach Resources, Inc. might touch $4.25 high while the Average Price Target and Low price Target is $2.45 and $0.5 respectively.

Among 13 analysts covering Approach Resources (NASDAQ:AREX), 2 have Buy rating, 1 Sell and 10 Hold. For the current year the company's revenue estimates are $104.95 Million compared to low analyst estimates of $103 Million and high estimates of $107.26 Million according to the prediction of 6 analysts.

Approach Resources, Inc., an independent energy company, focuses on the acquisition, exploration, development, and production of unconventional gas and oil reserves in the United States. (NASDAQ:AREX). American Gp holds 0% or 28,849 shares. If you are accessing this report on another website, it was illegally copied and republished in violation of United States & global copyright & trademark legislation. Pnc Fincl Services Gru Incorporated has invested 0% in Approach Resources, Inc.

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