Ramaco Resources (NASDAQ:METCB) Shares Gap Up – Here’s What Happened

Ramaco Resources, Inc. (NASDAQ:METCB) shares gapped up prior to trading on Monday . The stock had previously closed at $12.82, but opened at $13.58. Ramaco Resources shares last traded at $13.4550, with a volume of 7,071 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ramaco Resources in a report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Ramaco Resources currently has an average rating of “Sell”.

Ramaco Resources Trading Down 3.0%

The company has a quick ratio of 2.24, a current ratio of 2.97 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $870.84 million, a P/E ratio of -19.40 and a beta of 0.96. The firm’s 50-day simple moving average is $12.27 and its 200 day simple moving average is $14.28.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in METCB. MCF Advisors LLC bought a new stake in Ramaco Resources during the third quarter worth about $27,000. Bank of America Corp DE grew its holdings in Ramaco Resources by 574.4% in the 3rd quarter. Bank of America Corp DE now owns 3,190 shares of the company’s stock valued at $54,000 after buying an additional 2,717 shares in the last quarter. Lunt Capital Management Inc. bought a new stake in shares of Ramaco Resources during the 4th quarter valued at $148,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Ramaco Resources during the 2nd quarter worth $152,000. Finally, FNY Investment Advisers LLC acquired a new position in Ramaco Resources in the 2nd quarter worth about $153,000. 9.63% of the stock is owned by institutional investors.

About Ramaco Resources

Ramaco Resources (NASDAQ:METCB) is a U.S.-based coal company focused on the exploration, development and production of metallurgical and thermal coal. The company’s operations encompass both surface and underground mining in the central Appalachian Basin, where it seeks to capitalize on the region’s high-quality, low-ash coal reserves. Ramaco’s product portfolio includes metallurgical coking coal used in steelmaking, as well as steam coal for power generation, with an emphasis on meeting the exacting specifications of industrial customers.

Founded in 2014 and headquartered in Houston, Texas, Ramaco Resources has assembled a strategic acreage position in southern West Virginia and southwestern Pennsylvania.