Short Interest in Tamboran Resources Corp (NYSE:TBN) Declines By 14.7%

Tamboran Resources Corp (NYSE:TBN) saw a large decline in short interest in December. As of December 15th, there was short interest totalling 39,000 shares, a decline of 14.7% from the November 30th total of 45,700 shares. Based on an average daily volume of 15,900 shares, the short-interest ratio is currently 2.5 days. Approximately 0.4% of the shares of the stock are sold short.

Tamboran Resources Price Performance

NYSE TBN traded up $0.14 during trading hours on Friday, reaching $18.73. The company’s stock had a trading volume of 9,670 shares, compared to its average volume of 38,908. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average price is $18.01. Tamboran Resources has a fifty-two week low of $15.75 and a fifty-two week high of $25.99.

Institutional Trading of Tamboran Resources

Institutional investors and hedge funds have recently modified their holdings of the business. Yaupon Capital Management LP increased its stake in shares of Tamboran Resources by 7.2% during the 3rd quarter. Yaupon Capital Management LP now owns 139,355 shares of the company’s stock worth $2,832,000 after purchasing an additional 9,355 shares in the last quarter. Atom Investors LP acquired a new stake in Tamboran Resources during the 3rd quarter valued at $351,000. Ingalls & Snyder LLC purchased a new position in Tamboran Resources during the third quarter worth $1,287,000. The Manufacturers Life Insurance Company acquired a new position in shares of Tamboran Resources in the third quarter worth $1,930,000. Finally, HITE Hedge Asset Management LLC lifted its position in shares of Tamboran Resources by 63.1% in the third quarter. HITE Hedge Asset Management LLC now owns 489,417 shares of the company’s stock valued at $9,945,000 after acquiring an additional 189,417 shares in the last quarter.

Wall Street Analysts Forecast Growth

TBN has been the subject of a number of research analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $41.00 price target on shares of Tamboran Resources in a report on Monday, December 23rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $31.00 price target on shares of Tamboran Resources in a research report on Tuesday, November 19th.

About Tamboran Resources

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.