Firms & Funds Favorite: Abraxas Petroleum Corporation (NASDAQ:AXAS)

Based on the lastest quarterly filings, institutions continue to be large stakeholders in Abraxas Petroleum Corporation (NASDAQ:AXAS).  The big banks are holding 59.20% of the shares while company insiders are clinging to 0.80%.  Shares of Abraxas Petroleum Corporation are currently valued at $1.74 with a furture target price of $3.99 according to research brokerages.  

Stock market players may have differing opinions on which type of research approach is best. Individual investors who prefer buy and hold strategies may be more likely to be studying the fundamentals. Traders that are constantly buying and selling shares may be more concerned with technical analysis. High frequency traders may be willing to take on more risk entering the market. For these types of traders, entry and exit points become far more important. Traders may be relying solely on charts in order to capture profits based on day to day, hour to hour, or minute by minute price fluctuations. Long term investors may not be as concerned with the daily ups and downs of the market.

Abraxas Petroleum Corporation (NASDAQ:AXAS)’s stock has been a favorite of “smart money” aka institutions, as of late.  Institutions are currently holders of 59.20% of the shares.  On the other hand, company insiders are holding 0.80%.  Abraxas Petroleum Corporation’s stock price currently sits at $1.74.

Recent Performance

Let’s take a look at how the stock has been performing recently.  Over the past twelve months, Abraxas Petroleum Corporation (NASDAQ:AXAS)’s stock was -29.27%.  Over the last week of the month, it was -0.57%, -19.82% over the last quarter, and  -46.13% for the past six months.

Over the past 50 days, Abraxas Petroleum Corporation stock was -32.30% off of the high and 10.13% removed from the low.  Their 52-Week High and Low are noted here.  -46.79% (High), 10.13%, (Low). 

Technical analysts have little regard for the value of a company. They use historic price data to observe stock price patterns to predict the direction of that price going forward.  Analysts use common formulas and ratios to accomplish this.

Abraxas Petroleum Corporation (NASDAQ:AXAS)’s RSI (Relative Strength Index) is 38.82.  RSI is a technical indicator of price momentum, comparing the size of recent gains to the size of recent losses and establishes oversold and overbought positions.

Another important element to consider is the price target and recommendations from brokerage firm analysts.  On a consensus basis the Street sees the stock heading to 3.99 in the near term.  Based on a 1 to 5 integer scale, analysts have a 1.40 recommendation on the name.

Investors may be wondering what’s in store for the next few months in terms of the equity market. Many investors may be hesitant to get into the mix with markets still trading at such high levels. Sometimes, the fear of missing out on the next big run will cause investors to make hasty decisions. Taking the time to do the full research can help offset the jitters associated with picking stocks. Finding stocks that still have room to head higher can be tricky, but there are still plenty of them out there. Although nobody can say for certain which way the market will trend into the New Year, investors should be on the lookout for opportunities that may present themselves over the next quarter. All eyes will be focused on company earnings when the next round of earnings reports begins.

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