Tamboran Resources Corp (NYSE:TBN) Short Interest Update

Tamboran Resources Corp (NYSE:TBN) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 33,600 shares, a decrease of 13.8% from the December 15th total of 39,000 shares. Based on an average trading volume of 15,300 shares, the days-to-cover ratio is presently 2.2 days. Approximately 0.4% of the shares of the company are short sold.

Analyst Ratings Changes

A number of research firms recently issued reports on TBN. Royal Bank of Canada restated a “sector perform” rating and set a $31.00 target price on shares of Tamboran Resources in a research report on Thursday, January 9th. Piper Sandler reissued an “overweight” rating and issued a $41.00 price objective on shares of Tamboran Resources in a report on Monday, December 23rd.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Yaupon Capital Management LP grew its position in shares of Tamboran Resources by 7.2% during the 3rd quarter. Yaupon Capital Management LP now owns 139,355 shares of the company’s stock valued at $2,832,000 after acquiring an additional 9,355 shares during the period. Ingalls & Snyder LLC purchased a new position in Tamboran Resources during the third quarter worth approximately $1,287,000. HITE Hedge Asset Management LLC grew its holdings in 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 purchasing an additional 189,417 shares during the period. Atom Investors LP purchased a new stake in shares of Tamboran Resources in the third quarter valued at approximately $351,000. Finally, Baupost Group LLC MA acquired a new position in shares of Tamboran Resources during the 3rd quarter worth approximately $11,599,000.

Tamboran Resources Stock Performance

Shares of TBN traded up $0.20 during trading hours on Thursday, hitting $21.65. The stock had a trading volume of 9,625 shares, compared to its average volume of 23,052. The business’s 50-day moving average is $18.71. Tamboran Resources has a fifty-two week low of $15.75 and a fifty-two week high of $25.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.59 and a quick ratio of 2.59.

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.