Alta Mesa Resources (NASDAQ:AMR) Shares Gap Down to $0.08

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Alta Mesa Resources Inc (NASDAQ:AMR) gapped down prior to trading on Friday . The stock had previously closed at $0.08, but opened at $0.08. Alta Mesa Resources shares last traded at $0.07, with a volume of 1,723,028 shares traded.

Several research analysts have commented on the stock. Zacks Investment Research lowered shares of Alta Mesa Resources from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. ValuEngine upgraded shares of Alta Mesa Resources from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Alta Mesa Resources has an average rating of “Hold” and an average target price of $4.25.

The company has a debt-to-equity ratio of 0.81, a current ratio of 0.15 and a quick ratio of 0.15. The company’s fifty day simple moving average is $0.12 and its 200 day simple moving average is $0.19.

A number of hedge funds and other institutional investors have recently modified their holdings of AMR. GSA Capital Partners LLP purchased a new stake in shares of Alta Mesa Resources in the 2nd quarter worth about $49,000. Paloma Partners Management Co grew its position in shares of Alta Mesa Resources by 372.2% in the 2nd quarter. Paloma Partners Management Co now owns 434,665 shares of the company’s stock worth $63,000 after buying an additional 342,622 shares during the period. SG Americas Securities LLC grew its position in shares of Alta Mesa Resources by 289.0% in the 1st quarter. SG Americas Securities LLC now owns 499,336 shares of the company’s stock worth $133,000 after buying an additional 370,956 shares during the period. Jane Street Group LLC grew its position in shares of Alta Mesa Resources by 300.3% in the 2nd quarter. Jane Street Group LLC now owns 554,673 shares of the company’s stock worth $81,000 after buying an additional 416,110 shares during the period. Finally, Wilks Brothers LLC purchased a new stake in shares of Alta Mesa Resources in the 2nd quarter worth about $64,000. Institutional investors and hedge funds own 47.56% of the company’s stock.

About Alta Mesa Resources (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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