BKV Corporation (NYSE:BKV) Sees Large Growth in Short Interest

BKV Corporation (NYSE:BKV) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 4,677,757 shares, a growth of 19.4% from the December 15th total of 3,919,243 shares. Based on an average trading volume of 823,446 shares, the days-to-cover ratio is currently 5.7 days. Currently, 5.0% of the company’s shares are sold short. Currently, 5.0% of the company’s shares are sold short. Based on an average trading volume of 823,446 shares, the days-to-cover ratio is currently 5.7 days.

Analyst Ratings Changes

BKV has been the topic of several research analyst reports. Mizuho boosted their price target on shares of BKV from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Susquehanna upped their target price on BKV from $32.00 to $33.00 and gave the stock a “positive” rating in a report on Tuesday, November 11th. Weiss Ratings reissued a “hold (c)” rating on shares of BKV in a research report on Monday, December 29th. KeyCorp restated an “overweight” rating and set a $30.00 price target on shares of BKV in a research report on Friday, December 19th. Finally, Roth Capital started coverage on BKV in a report on Wednesday, January 7th. They issued a “buy” rating and a $31.00 price objective for the company. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.14.

BKV Price Performance

BKV stock opened at $27.11 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 0.85. The firm has a 50 day moving average price of $26.96 and a 200-day moving average price of $23.80. BKV has a 52-week low of $15.00 and a 52-week high of $29.65. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 52.13 and a beta of 1.60.

BKV (NYSE:BKV) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.34. BKV had a return on equity of 6.91% and a net margin of 5.67%.The company had revenue of $199.23 million during the quarter, compared to analyst estimates of $234.36 million. Equities research analysts forecast that BKV will post -1.82 EPS for the current fiscal year.

BKV declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 18th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other BKV news, insider Lindsay B. Larrick sold 6,518 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $25.00, for a total transaction of $162,950.00. Following the transaction, the insider directly owned 137,154 shares of the company’s stock, valued at approximately $3,428,850. The trade was a 4.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 39,187 shares of company stock valued at $963,375 in the last quarter. Insiders own 4.11% of the company’s stock.

Institutional Trading of BKV

Institutional investors have recently bought and sold shares of the company. Cooper Creek Partners Management LLC purchased a new stake in shares of BKV during the second quarter valued at approximately $8,215,000. SG Americas Securities LLC bought a new position in BKV in the 4th quarter valued at approximately $1,509,000. Geode Capital Management LLC boosted its stake in BKV by 13.9% during the 2nd quarter. Geode Capital Management LLC now owns 376,232 shares of the company’s stock valued at $9,076,000 after purchasing an additional 45,989 shares during the last quarter. Strs Ohio bought a new stake in shares of BKV in the 3rd quarter worth $278,000. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in shares of BKV by 37.9% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,246 shares of the company’s stock worth $102,000 after purchasing an additional 1,166 shares in the last quarter.

BKV Company Profile

BKV Corporation engages in the acquisition, operation, and development of natural gas and NGL properties. It is also involved in the gathering, processing, and transportation of natural gas. The company was founded in 2015 and is based in Denver, Colorado with additional offices in Tunkhannock, Pennsylvania and Fort Worth, Texas. BKV Corporation, LLC operates as a subsidiary of Banpu North America Corporation.