Archaea Energy (NYSE:LFG) Announces Quarterly Earnings Results, Misses Estimates By $0.34 EPS

Archaea Energy (NYSE:LFG – Get Rating) issued its quarterly earnings data on Tuesday. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.34), MarketWatch Earnings reports. The company had revenue of $56.90 million during the quarter, compared to analysts’ expectations of $65.80 million. The firm’s revenue was up 3456.3% compared to the same quarter last year.

Shares of NYSE LFG traded down $0.46 during trading on Tuesday, reaching $19.34. The company had a trading volume of 56,200 shares, compared to its average volume of 945,018. Archaea Energy has a twelve month low of $13.75 and a twelve month high of $23.75. The stock has a 50-day moving average price of $21.02 and a two-hundred day moving average price of $19.26.

In other news, Director Renewable Energy Systems Aria sold 14,942,643 shares of Archaea Energy stock in a transaction on Friday, March 25th. The stock was sold at an average price of $17.04, for a total value of $254,622,636.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 36.74% of the company’s stock.

Several large investors have recently made changes to their positions in LFG. JPMorgan Chase & Co. grew its position in shares of Archaea Energy by 2,693.3% in the fourth quarter. JPMorgan Chase & Co. now owns 7,486 shares of the company’s stock valued at $137,000 after purchasing an additional 7,218 shares during the period. Stifel Financial Corp purchased a new stake in Archaea Energy during the fourth quarter valued at about $201,000. Morgan Stanley purchased a new position in Archaea Energy in the 3rd quarter worth approximately $251,000. State Street Corp acquired a new position in shares of Archaea Energy during the fourth quarter worth $296,000. Finally, Glenmede Trust Co. NA acquired a new position in shares of Archaea Energy during the fourth quarter worth $329,000. 55.87% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on the company. Zacks Investment Research raised Archaea Energy from a “sell” rating to a “hold” rating in a report on Tuesday, May 3rd. Citigroup reduced their price objective on Archaea Energy from $31.00 to $29.00 in a report on Tuesday, January 18th. Finally, Stifel Nicolaus started coverage on Archaea Energy in a report on Monday, March 7th. They issued a “buy” rating and a $37.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $27.60.

About Archaea Energy (Get Rating)

Archaea Energy Inc operates as a renewable natural gas (RNG) and renewable electricity producer in the United States. It owns and operates a diversified portfolio of 23 landfill gas recovery and processing projects across 12 states, including 13 projects that collectively generate approximately 177.3 MW of electric capacity and 10 projects that have capacity to produce approximately 27,480 million of British thermal units per day of pipeline-quality RNG.

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