Mach Natural Resources LP (NYSE:MNR) Short Interest Up 24.5% in December

Mach Natural Resources LP (NYSE:MNR) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 124,300 shares, an increase of 24.5% from the December 15th total of 99,800 shares. Currently, 0.7% of the shares of the stock are short sold. Based on an average daily volume of 208,300 shares, the short-interest ratio is presently 0.6 days.

Wall Street Analysts Forecast Growth

Separately, Truist Financial upped their price objective on Mach Natural Resources from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, January 13th.

Mach Natural Resources Price Performance

NYSE:MNR traded up $0.05 during trading hours on Friday, hitting $17.66. 138,928 shares of the company were exchanged, compared to its average volume of 184,875. The company has a quick ratio of 1.16, a current ratio of 1.24 and a debt-to-equity ratio of 0.56. Mach Natural Resources has a one year low of $14.46 and a one year high of $21.19.

Institutional Trading of Mach Natural Resources

A hedge fund recently raised its stake in Mach Natural Resources stock. Avior Wealth Management LLC grew its position in Mach Natural Resources LP (NYSE:MNR) by 33.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,000 shares of the company’s stock after purchasing an additional 3,000 shares during the quarter. Avior Wealth Management LLC’s holdings in Mach Natural Resources were worth $206,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 78.36% of the company’s stock.

Mach Natural Resources Company Profile

Mach Natural Resources LP, an independent upstream oil and gas company, focuses on the acquisition, development, and production of oil, natural gas, and natural gas liquids reserves in the Anadarko Basin region of Western Oklahoma, Southern Kansas, and the panhandle of Texas. It also owns a portfolio of midstream assets, as well as owns plants and water infrastructure.