Halcon Resources (HK)
Background: Halcon Resources is an energy company engaged in the acquisition, exploration and development of onshore oil and natural gas properties in the United States. The company trades an average of 3.8 million shares per day with a market cap of $1 billion.
52-Week High: $13.3552-Week Low: $1.95 Book Value: $4.73 Analysts continue to believe in the direction Halcon is headed. Four of the four analysts covering the company give a buy recommendation. From a technical perspective, the 60-day moving average (some use a 50-day) is above the 200-day moving average and is somewhat bullish. Recently, HK broke through the resistance trend line. Also, the chart is oversold on the daily and weekly time frame. In the last month, the stock has really taken a turn for the worse. Shares have crumbled 12.3% in the last month of trading. This should have washed out most of the large sellers leaving strong hands holding. Revenue year-over-year has decreased slightly to $107.88 million in fiscal 2011, compared to $112.33 million in the previous year. The short interest is markedly elevated and short sellers have done well in the past couple of months. The current float short is 14.8%, and any large catalyst could begin a short squeeze. HK Free Cash Flow TTM data by YCharts
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