Ramaco Resources (NASDAQ:METC) Stock Price Down 7.5% Following Insider Selling

Ramaco Resources, Inc. (NASDAQ:METC)’s share price dropped 7.5% on Wednesday after an insider sold shares in the company. The stock traded as low as $13.80 and last traded at $13.6960. Approximately 944,795 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 2,139,815 shares. The stock had previously closed at $14.80.

Specifically, Director Peter A. Leidel sold 20,115 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $15.18, for a total value of $305,345.70. Following the sale, the director owned 2,497,567 shares in the company, valued at approximately $37,913,067.06. The trade was a 0.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter A. Leidel sold 6,081 shares of the firm’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $10.34, for a total value of $62,877.54. Following the transaction, the director owned 814,793 shares of the company’s stock, valued at $8,424,959.62. This trade represents a 0.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In other Ramaco Resources news, Director Peter A. Leidel sold 21,625 shares of the business’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $10.93, for a total transaction of $236,361.25. Following the sale, the director directly owned 816,311 shares in the company, valued at $8,922,279.23. This represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on METC. Zacks Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. The Goldman Sachs Group raised shares of Ramaco Resources from a “sell” rating to a “neutral” rating and raised their price target for the company from $14.00 to $15.00 in a research report on Tuesday, April 21st. Robert W. Baird dropped their price target on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. B. Riley Financial cut their price objective on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Finally, Morgan Stanley reduced their price objective on Ramaco Resources from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.29.

Ramaco Resources Stock Performance

The stock’s 50-day simple moving average is $14.84 and its 200 day simple moving average is $16.45. 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 has a market capitalization of $969.23 million, a PE ratio of -13.52 and a beta of 1.31.

Ramaco Resources (NASDAQ:METC) last released its quarterly earnings data on Monday, May 11th. The energy company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.08). The firm had revenue of $101.41 million for the quarter, compared to analysts’ expectations of $129.72 million. Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.Ramaco Resources’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same period last year, the firm posted ($0.20) earnings per share. As a group, research analysts expect that Ramaco Resources, Inc. will post -0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP acquired a new position in Ramaco Resources in the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd raised its holdings in Ramaco Resources by 14,250.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,722 shares of the energy company’s stock worth $31,000 after purchasing an additional 1,710 shares in the last quarter. Allworth Financial LP lifted its position in shares of Ramaco Resources by 3,603.6% during the 3rd quarter. Allworth Financial LP now owns 1,037 shares of the energy company’s stock worth $34,000 after buying an additional 1,009 shares during the last quarter. Spirit of America Management Corp NY purchased a new stake in shares of Ramaco Resources during the 4th quarter worth approximately $38,000. Finally, Advisory Services Network LLC acquired a new position in shares of Ramaco Resources in the 3rd quarter valued at $38,000. 74.49% of the stock is owned by institutional investors and hedge funds.

About Ramaco Resources

Ramaco Resources, Inc (NASDAQ:METC) is a U.S.-based producer of premium metallurgical coal and industrial minerals, focused on supplying the steel and allied industries. The company’s operations are centered in the Appalachian region of West Virginia, where it develops, mines and processes high-carbon coal products designed to meet the quality requirements of blast?furnace and electric?arc furnace steelmakers.

The firm’s flagship asset is the Elk Creek underground mine in Wyoming County, West Virginia, which began commercial production in 2019 and delivers a range of high?grade metallurgical and anthracite coals.