Archaea Energy (NYSE:LFG) Rating Increased to Hold at Zacks Investment Research

Archaea Energy (NYSE:LFGGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Archaea Energy LLC is involved in developing renewable natural gas from high-carbon emission processes and industries by capturing recurring emissions from food waste, wastewater, agricultural waste and landfill gas. It operates and manages RNG projects throughout the entire energy life cycle and offers off-take partners. Archaea Energy LLC, formerly known as Rice Acquisition Corp., is based in CARNEGIE, Pa. “

A number of other research firms also recently commented on LFG. Citigroup reduced their target price on Archaea Energy from $31.00 to $29.00 in a report on Tuesday, January 18th. Stifel Nicolaus started coverage on Archaea Energy in a research report on Monday, March 7th. They set a “buy” rating and a $37.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $27.60.

Shares of LFG opened at $18.48 on Wednesday. Archaea Energy has a one year low of $14.30 and a one year high of $23.75. The stock has a 50-day moving average price of $21.11 and a 200 day moving average price of $19.25.

Archaea Energy (NYSE:LFGGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.34). The company had revenue of $56.90 million during the quarter, compared to analysts’ expectations of $65.80 million. The firm’s quarterly revenue was up 3456.3% on a year-over-year basis. On average, research analysts anticipate that Archaea Energy will post 0.51 EPS for the current year.

In related news, Director Renewable Energy Systems Aria sold 14,942,643 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 36.74% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ovata Capital Management Ltd acquired a new stake in Archaea Energy in the 1st quarter valued at approximately $26,000. PNC Financial Services Group Inc. acquired a new stake in Archaea Energy in the 3rd quarter valued at approximately $38,000. Advisors Asset Management Inc. acquired a new stake in Archaea Energy in the 1st quarter valued at approximately $64,000. Citigroup Inc. acquired a new stake in Archaea Energy in the 3rd quarter valued at approximately $89,000. Finally, Moors & Cabot Inc. acquired a new position in shares of Archaea Energy during the 3rd quarter valued at $374,000. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Archaea Energy Company Profile (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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