Tamboran Resources Corp (NYSE:TBN) Short Interest Down 13.8% in December

Tamboran Resources Corp (NYSE:TBN) was the target of a large decrease in short interest during 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 currently 2.2 days. Approximately 0.4% of the company’s stock are sold short.

Tamboran Resources Price Performance

Shares of NYSE:TBN traded down $0.21 on Friday, reaching $21.43. The company’s stock had a trading volume of 7,142 shares, compared to its average volume of 13,177. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.59 and a current ratio of 2.59. Tamboran Resources has a 52-week low of $15.75 and a 52-week high of $25.99. The business has a 50-day moving average price of $18.76.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $41.00 target price on shares of Tamboran Resources in a report on Monday, December 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $31.00 price objective on shares of Tamboran Resources in a research note on Thursday, January 9th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Atom Investors LP purchased a new position in Tamboran Resources during the 3rd quarter worth $351,000. Ingalls & Snyder LLC purchased a new position in Tamboran Resources during the third quarter worth about $1,287,000. The Manufacturers Life Insurance Company acquired a new stake in Tamboran Resources in the third quarter valued at about $1,930,000. Yaupon Capital Management LP boosted its holdings in Tamboran Resources by 7.2% in the 3rd quarter. Yaupon Capital Management LP now owns 139,355 shares of the company’s stock valued at $2,832,000 after purchasing an additional 9,355 shares in the last quarter. Finally, Edge Capital Group LLC purchased a new position in shares of Tamboran Resources during the 2nd quarter worth approximately $4,687,000.

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.