Short Interest in Ramaco Resources, Inc. (NASDAQ:METCB) Increases By 268.2%

Ramaco Resources, Inc. (NASDAQ:METCB) was the recipient of a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 215,208 shares, a growth of 268.2% from the June 15th total of 58,449 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily volume of 118,998 shares, the short-interest ratio is currently 1.8 days.

Ramaco Resources Trading Down 6.7%

Shares of METCB stock traded down $0.58 during mid-day trading on Monday, hitting $8.02. The company’s stock had a trading volume of 47,891 shares, compared to its average volume of 81,138. The company has a market cap of $522.74 million, a PE ratio of -7.29 and a beta of 1.11. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.93 and a current ratio of 4.88. The company’s fifty day simple moving average is $9.98 and its 200-day simple moving average is $11.10. Ramaco Resources has a 52 week low of $7.61 and a 52 week high of $22.11.

Ramaco Resources (NASDAQ:METCB) last announced its earnings results on Monday, May 11th. The company reported ($0.30) EPS for the quarter. Ramaco Resources had a negative net margin of 11.52% and a negative return on equity of 13.44%. The business had revenue of $121.61 million for the quarter.

Hedge Funds Weigh In On Ramaco Resources

Institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. grew its position in shares of Ramaco Resources by 12.7% during the 2nd quarter. American Century Companies Inc. now owns 221,581 shares of the company’s stock worth $1,813,000 after buying an additional 24,924 shares during the period. XTX Topco Ltd lifted its position in shares of Ramaco Resources by 49.2% during the 2nd quarter. XTX Topco Ltd now owns 20,398 shares of the company’s stock valued at $167,000 after acquiring an additional 6,727 shares during the period. Jane Street Group LLC acquired a new position in shares of Ramaco Resources during the 2nd quarter valued at $187,000. Yorktown Energy Partners X L.P. boosted its stake in Ramaco Resources by 20.6% during the second quarter. Yorktown Energy Partners X L.P. now owns 806,465 shares of the company’s stock worth $6,597,000 after acquiring an additional 137,742 shares in the last quarter. Finally, Yorktown Energy Partners IX L.P. boosted its stake in Ramaco Resources by 18.5% during the second quarter. Yorktown Energy Partners IX L.P. now owns 1,204,053 shares of the company’s stock worth $9,849,000 after acquiring an additional 188,278 shares in the last quarter. 9.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Ramaco Resources in a research report on Thursday, June 18th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Ramaco Resources presently has an average rating of “Sell”.

About Ramaco Resources

Ramaco Resources (NASDAQ:METCB) is a U.S.-based coal company focused on the exploration, development and production of metallurgical and thermal coal. The company’s operations encompass both surface and underground mining in the central Appalachian Basin, where it seeks to capitalize on the region’s high-quality, low-ash coal reserves. Ramaco’s product portfolio includes metallurgical coking coal used in steelmaking, as well as steam coal for power generation, with an emphasis on meeting the exacting specifications of industrial customers.

Founded in 2014 and headquartered in Houston, Texas, Ramaco Resources has assembled a strategic acreage position in southern West Virginia and southwestern Pennsylvania.