The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. PHX Minerals Inc. shares valued at $51,098 were purchased by Edenbrook Capital, LLC on Jun 17. At $3.41 per share, Edenbrook Capital, LLC acquired 15,000 shares. The insider’s holdings grew to 5,109,571 shares worth approximately $17.42 million following the completion of this transaction.
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Also, SRP CAPITAL ADVISORS, LLC purchased 81,265 shares, netting a total of over 343,751 in proceeds. Following the buying of shares at $4.23 each, the insider now holds 3,388,292 shares.
Before that, D’Amico Raphael had added 3,000 shares to its account. In a trade valued at $9,806, the VP – CFO bought PHX Minerals Inc. shares for $3.27 each. Upon closing the transaction, the insider’s holdings increased to 3,000 shares, worth approximately $1.24 million.
As published in a research note from Wunderlich on June 18, 2009, PHX Minerals Inc. [PHX] has been retained to a Buy and the price target has been revised to $30. This represents a 88.63% premium over Wednesday’s closing price. Analysts at Wunderlich upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in mid February. As of January 30, 2009, Wunderlich has initiated its “Hold” rating for PHX.
Analyzing PHX’s Price Performance
On Wednesday, PHX Minerals Inc. [NYSE: PHX] plunged -7.59% to $3.41. The stock’s lowest price that day was $3.34, but it reached a high of $3.56 in the same session. During the last five days, there has been a drop of approximately -13.23%. Over the course of the year, PHX Minerals Inc. shares have jumped approximately 57.14%. Shares of the company reached a 52-week high of $4.98 on 06/09/22 and a 52-week low of $2.09 on 02/08/22. A 50-day SMA is recorded $3.62, while a 200-day SMA reached $2.94. Nevertheless, trading volume fell to 0.44 million shares from 0.43 million shares the previous day.
Support And Resistance Levels for PHX Minerals Inc. (PHX)
According to the 24-hour chart, there is a support level at 3.31, which, if violated, would cause prices to drop to 3.22. In the upper region, resistance lies at 3.53. The next price resistance is at 3.66. RSI (Relative Strength Index) is 43.07 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.50, which suggests the price will decrease in the coming days. Percent R is at 95.73%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Which companies own the most shares of PHX Minerals Inc. (PHX)?
According to Edenbrook Capital LLC filings, the company currently owns 5,094,571 shares, which is about 14.46% of the total PHX shares outstanding. The investor’s shares have plunged by 0 from its previous 13-F filing of 5094571.0 shares. With the completion of the sale, The Vanguard Group, Inc.’s stake is now worth $2,879,863. RBF Capital LLC reduced a 0.00% interest valued at $2.26 million while Dimensional Fund Advisors LP purchased a 48,270 stake. A total of 27,565 shares of PHX Minerals Inc. were bought by Renaissance Technologies LLC during the quarter, and 5,118 were bought by BlackRock Fund Advisors. In its current portfolio, Precept Management LLC holds 275,000 shares valued at $0.96 million.
In terms of PHX Minerals Inc. share price expectations, FactSet research, analysts set an average price target of $5.45 in the next 12 months, up nearly 47.7% from the previous closing price of $3.69. Analysts anticipate PHX Minerals Inc. stock to reach $6.90 by 2022, with the lowest price target being $4.00. In spite of this, 2 analysts ranked PHX Minerals Inc. stock as a Buy at the end of 2022.