Short Interest in Tamboran Resources Corp (NYSE:TBN) Increases By 19.7%

Tamboran Resources Corp (NYSE:TBN - Get Free Report) was the recipient of a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 27,400 shares, an increase of 19.7% from the January 31st total of 22,900 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily volume of 24,300 shares, the short-interest ratio is currently 1.1 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TBN. The Manufacturers Life Insurance Company acquired a new stake in shares of Tamboran Resources during the 3rd quarter worth about $1,930,000. Baupost Group LLC MA bought a new stake in Tamboran Resources during the third quarter worth about $11,599,000. Atom Investors LP acquired a new stake in shares of Tamboran Resources during the third quarter worth approximately $351,000. HITE Hedge Asset Management LLC raised its stake in shares of Tamboran Resources by 63.1% in the third quarter. HITE Hedge Asset Management LLC now owns 489,417 shares of the company's stock valued at $9,945,000 after acquiring an additional 189,417 shares during the last quarter. Finally, Ingalls & Snyder LLC acquired a new position in shares of Tamboran Resources in the 3rd quarter worth approximately $1,287,000.

Tamboran Resources Trading Down 6.4 %

TBN traded down $1.49 during midday trading on Monday, reaching $21.82. 25,673 shares of the company's stock were exchanged, compared to its average volume of 39,551. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.02. The business has a 50-day simple moving average of $23.57 and a two-hundred day simple moving average of $20.44. Tamboran Resources has a one year low of $15.75 and a one year high of $34.50.

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Tamboran Resources (NYSE:TBN - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.34) by $0.01. Research analysts predict that Tamboran Resources will post -1.86 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on TBN. Royal Bank of Canada restated a "sector perform" rating and set a $31.00 price objective on shares of Tamboran Resources in a report on Thursday, January 9th. Piper Sandler reiterated an "overweight" rating and issued a $41.00 price objective on shares of Tamboran Resources in a research report on Monday, December 23rd. Finally, Alliance Global Partners began coverage on Tamboran Resources in a research report on Tuesday, January 21st. They set a "buy" rating and a $32.00 price objective on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $36.60.

Tamboran Resources Company Profile

Tamboran Resources Corporation, a natural gas company, focuses on developing unconventional gas resources in the northern territory of Australia. Its assets include a 25% non-operated working interest in EP 161; a 38.75% working interest in EPs 76, 98, and 117; and a 100% working interest in EPs 136 and 143, as well as EP (A) 197, located in the Betaloo Basin.