American Noble Gas (NYSE:INFY) Reaches New 1-Year Low on Analyst Downgrade

American Noble Gas Inc. (NYSE:INFY) hit a new 52-week low during trading on Monday after Jefferies Financial Group downgraded the stock from a buy rating to a hold rating. Jefferies Financial Group now has a $14.31 price target on the stock. American Noble Gas traded as low as $14.13 and last traded at $14.1830, with a volume of 3612916 shares trading hands. The stock had previously closed at $14.65.

Other analysts have also issued research reports about the stock. Weiss Ratings restated a “hold (c)” rating on shares of American Noble Gas in a research report on Monday, December 29th. TD Cowen raised their target price on American Noble Gas from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Thursday, January 15th. Stifel Nicolaus reduced their price target on American Noble Gas from $19.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, February 18th. Finally, BMO Capital Markets increased their price target on American Noble Gas from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Thursday, January 15th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.89.

Institutional Trading of American Noble Gas

Several hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new position in American Noble Gas in the first quarter worth approximately $239,000. NewEdge Advisors LLC boosted its stake in American Noble Gas by 79.9% during the first quarter. NewEdge Advisors LLC now owns 54,978 shares of the technology company’s stock worth $1,003,000 after buying an additional 24,426 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of American Noble Gas by 6.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,155 shares of the technology company’s stock valued at $1,153,000 after acquiring an additional 3,804 shares during the last quarter. Hedge funds and other institutional investors own 16.20% of the company’s stock.

American Noble Gas Stock Performance

The business’s 50 day moving average price is $17.58 and its 200-day moving average price is $17.15. The firm has a market capitalization of $57.15 billion, a PE ratio of 18.34, a P/E/G ratio of 2.18 and a beta of 0.98.

American Noble Gas (NYSE:INFY) last announced its earnings results on Wednesday, January 14th. The technology company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. American Noble Gas had a return on equity of 30.60% and a net margin of 16.16%.The company had revenue of $5.05 billion during the quarter, compared to analysts’ expectations of $5.11 billion. As a group, analysts anticipate that American Noble Gas Inc. will post 0.74 earnings per share for the current year.

About American Noble Gas

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.