EON Resources (NYSEAMERICAN:EONR) Stock Price Down 1.9% – Here’s What Happened

EON Resources Inc. (NYSEAMERICAN:EONR)’s share price fell 1.9% during trading on Tuesday . The company traded as low as $0.42 and last traded at $0.45. 818,801 shares were traded during trading, a decline of 74% from the average session volume of 3,139,477 shares. The stock had previously closed at $0.46.

Wall Street Analyst Weigh In

Separately, D. Boral Capital reiterated a “buy” rating and set a $2.00 price target on shares of EON Resources in a research report on Friday, May 23rd.

EON Resources Price Performance

The company’s 50-day moving average is $0.43.

Hedge Funds Weigh In On EON Resources

A hedge fund recently bought a new stake in EON Resources stock. XTX Topco Ltd purchased a new stake in EON Resources Inc. (NYSEAMERICAN:EONR) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 64,098 shares of the company’s stock, valued at approximately $31,000.

About EON Resources

EON Resources Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and production of oil and natural gas properties in the Permian Basin. It holds a 100% working interest in the property that consists of 343 wells producing oil and gas, as well as 207 injection wells covering an area of approximately 13,700 contiguous acres.