NEW YORK (

TheStreet

) --

Abraxas Petroleum Corporation

(Nasdaq:

AXAS

) hit a new 52-week high Monday as it traded at $6.10 compared with its previous 52-Week high of $5.95. Abraxas is changing hands at $6.10 with 80,073 shares traded as of 9:30 a.m. ET. Average volume has been 1.1 million shares over the past 30 days.

Abraxas has a market cap of $44 million and is part of the

basic materials

sector and

energy

industry. Shares are up 28.4% year to date as of the close of trading on Friday.

Abraxas Petroleum Corporation, an independent energy company, engages in the acquisition, development, exploration, and production of oil and gas primarily in the Rocky Mountain, Mid-Continent, Permian Basin, and Gulf Coast regions of the United States. The company has a P/E ratio of 96, above the average energy industry P/E ratio of 82.3 and above the S&P 500 P/E ratio of 22.6.

TheStreet Ratings rates Abraxas as a hold. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and revenue growth. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall. You can view the full

Abraxas Ratings Report

.

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