Hallador Energy director David C. Hardie sold $217,315 in stock By Investing.com
David C. Hardie, director of Hallador Energy Co. (NASDAQ:HNRG), has sold a significant portion of his holdings in the company. According to the latest SEC filing, Hardie sold a total of 16,692 shares of Hallador Energy common stock in two days. The transactions, which took place on November 20 and 21, were made at prices ranging from $13.0151 to $13.0525 per share, which is approximately $217,315.
After the purchase, Hardie owns 2,090,127 shares indirectly through Hallador Alternative Assets Fund LLC. This move comes as part of a general portfolio adjustment and provides insight into Hallador Energy’s internal trading activities.
In other recent news, Hallador Energy reported an important development during its 2024 Third Quarter Earnings Call. The company experienced gross margin growth in power generation and secured a $60 million prepaid power purchase agreement for 2025 and 2026. However, coal sales have declined due to production cuts, and coal production costs remain high. Hallador Energy has also signed a non-binding term sheet with the data center developer for long-term energy contracts. The company’s Q3 electricity production rose to 1.1 million megawatt hours, with an increase in gross margin per megawatt hour. In addition, the company’s net income in Q3 was $1.6 million, a significant change from a loss of $10.2 million in Q2. These are some of the latest highlights of the company’s strategic shift amid a difficult energy situation.
InvestingPro Insights
David C. Hardie’s latest insider sale at Hallador Energy Co. (NASDAQ:HNRG) comes at a time when the company’s stock is trading near its 52-week high, according to InvestingPro data. This is consistent with the strong performance seen in the stock’s recent price movements, InvestingPro Tips highlight strong returns over the past month, three months, and significant price increases over the past six months.
Despite the stock’s strong performance, InvestingPro Tips indicates that analysts expect sales to decline this year and expect revenue to decline. This could explain why an insider might choose to sell shares at this time, possibly taking advantage of the stock’s recent strength.
It is worth noting that Hallador Energy operates with a limited level of debt and has not been profitable in the past twelve months. The company’s P/E ratio stands at -23.74, indicating its current lack of profitability. Additionally, InvestingPro data shows that the company’s revenue for the last twelve months from Q3 2023 was $429.36 million, with a significant revenue decline of -35.66% over the same period.
For investors looking for a comprehensive analysis, InvestingPro offers 12 additional tips for Hallador Energy, providing a deeper understanding of the company’s financial health and market conditions.
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