Today's Dead Cat Bounce Stock: Abraxas Petroleum (AXAS)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Abraxas Petroleum ( AXAS) as a "dead cat bounce" (down big yesterday but up big today) candidate. In addition to specific proprietary factors, Trade-Ideas identified Abraxas Petroleum as such a stock due to the following factors:

  • AXAS has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $12.5 million.
  • AXAS has traded 383,718 shares today.
  • AXAS is up 3% today.
  • AXAS was down 7.7% yesterday.

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More details on AXAS:

Abraxas Petroleum Corporation, an independent energy company, is engaged in the acquisition, exploitation, development, and production of oil and gas in the United States and Canada. AXAS has a PE ratio of 14.0. Currently there are 6 analysts that rate Abraxas Petroleum a buy, no analysts rate it a sell, and 1 rates it a hold.

The average volume for Abraxas Petroleum has been 3.0 million shares per day over the past 30 days. Abraxas has a market cap of $603.9 million and is part of the basic materials sector and energy industry. The stock has a beta of 2.83 and a short float of 4.1% with 4.87 days to cover. Shares are up 62.2% year-to-date as of the close of trading on Monday.

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