Miller Stock Falls On Unusually High Volume (MILL)
Miller Petroleum (Nasdaq:MILL) is trading at unusually high volume Thursday with 1.6 million shares changing hands. It is currently at 4.2 times its average daily volume and trading down 86 cents (-12.2%).
NEW YORK ( TheStreet) -- Miller Petroleum (Nasdaq: MILL) is trading at unusually high volume Thursday with 1.6 million shares changing hands. It is currently at 4.2 times its average daily volume and trading down 86 cents (-12.2%) at $6.18 as of 3:02 p.m. ET. Miller has a market cap of $292.7 million and is part of the basic materials sector and energy industry. Shares are up 35.4% year to date as of the close of trading on Wednesday. Miller Energy Resources, Inc. engages in the exploration, production, and drilling of oil and natural gas resources in the United States. TheStreet Ratings rates Miller as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share. You can view the full Miller Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are falling on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVDOWN to 95370 or select from multiple alert options.
In trading on Tuesday, shares of Miller Energy Resources, Inc.'s 10.5% Series D Fixed Rate/Floating Rate Cumulative Redeemable Preferred Stock were yielding above the 17% mark based on its quarterly dividend (annualized to $2.625), with shares changing hands as low as $15.25 on the day. This compares to an average yield of 15.24% in the "Oil & Gas Exploration & Production" preferred stock category, according to Preferred Stock Channel.
The most recent short interest data was recently released by the NASDAQ for the 11/28/2014 settlement date, and Miller Energy Resources, Inc. is one of the most shorted stocks of the Russell 3000, based on 16.60 "days to cover" versus the median component at 6.85.