Sanchez Midstream (NYSEAMERICAN:SNMP) saw a significant decline in short interest in the month of March. As of March 29th, there was short interest totalling 48,012 shares, a decline of 41.4% from the March 15th total of 81,927 shares. Based on an average trading volume of 89,433 shares, the short-interest ratio is presently 0.5 days. Approximately 0.5% of the shares of the company are sold short.
Separately, Zacks Investment Research raised Sanchez Midstream from a “sell” rating to a “hold” rating in a report on Friday, December 29th.
NYSEAMERICAN:SNMP opened at $12.35 on Wednesday. Sanchez Midstream has a 52-week low of $9.35 and a 52-week high of $15.10.
Sanchez Midstream (NYSEAMERICAN:SNMP) last released its quarterly earnings data on Friday, March 9th. The basic materials company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.21). The firm had revenue of $18.72 million during the quarter, compared to analysts’ expectations of $21.90 million.
In other Sanchez Midstream news, Director Antonio R. Sanchez III sold 5,121 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $13.00, for a total transaction of $66,573.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Antonio R. Sanchez III sold 4,700 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $13.00, for a total value of $61,100.00. The disclosure for this sale can be found here. Insiders sold 11,505 shares of company stock valued at $149,565 in the last ninety days.
Several large investors have recently bought and sold shares of the stock. Kalos Management Inc. purchased a new stake in shares of Sanchez Midstream in the third quarter worth about $117,000. Brown Advisory Inc. purchased a new stake in shares of Sanchez Midstream in the fourth quarter worth about $156,000. California Public Employees Retirement System purchased a new stake in Sanchez Midstream during the fourth quarter valued at approximately $333,000. Penn Capital Management Co. Inc. purchased a new stake in Sanchez Midstream during the fourth quarter valued at approximately $507,000. Finally, Renaissance Technologies LLC purchased a new stake in Sanchez Midstream during the fourth quarter valued at approximately $516,000.
Sanchez Midstream Company Profile
Sanchez Midstream Partners LP engages in the acquisition, development, ownership, and operation of midstream and other energy-related assets in the United States. It operates in two segments, Midstream and Production. The Midstream segment engages in gathering, processing, and transporting natural gas, NGLs, and oil.
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