Hallador Energy Co (HNRG) shares decline during pre-market. Here’s what’s going on?
Hallador Energy Co (HNRG) stock started the new trading week gaining 22.73% on Tuesday, June 1, 2021, but in pre-market trading, HNRG stock lost 4.04%. HNRG shares have climbed 340.00% in the past 12 months, and they are up 36.24% last week. Over the past three months the stock has gained 74.71%, while over the past six months it has risen 175.00%.
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Let’s see if there is a reason for its loss and what are the latest developments concerning the company?
Working with Hoosier Energy for renewable energy
On June 01, 2021, Hallador Energy Company ad work with Hoosier Energy Rural Electric Cooperative, Inc. to develop up to 1,000 megawatts (MW) of renewable energy, located near the Merom coal plant in Sullivan, where Hoosier Energy plans to retire in May 2023.
According to the plan, Hallador will develop around 200 MW of energy from solar storage and batteries through power purchase agreements with Hoosier Energy in 2025.
Recent financial results
On May 3, 2021, Hallador Energy Company ad its financial results for the first quarter of 2021 which ended on March 31, 2021.
First Quarter 2021 Financial Highlights
- Hallador Energy reported revenue of $ 46.7 million in the first quarter of 2021, compared to $ 62.5 million in the first quarter of 2020.
- In the first quarter of 2021, the net loss was $ 1.03 million, compared to a net loss of $ 3.7 million in the first quarter of 2020.
- Adjusted EBITDA was $ 11.42 million in the first quarter of 2021, compared to $ 13.9 million in the first quarter of 2020.
- The company had adjusted free cash flow of $ 5.37 million in the first quarter of 2021, up from $ 6.81 million in the first quarter of 2020.
How much is Hallador Energy’s debt?
Hallador Energy’s total debt is $ 150.20 million, with $ 113.72 million in long-term debt and $ 36.47 million in current debt as presented in the November 2020 financial statements. The company announced bank indebtedness of $ 136.5 million on May 3 in the first quarter financial release.
How big is the debt?
Debt is an important factor in a company’s capital structure and can help it achieve growth. Debt generally has a relatively lower cost of financing than equity, making it an attractive option for executives.
Announcement of financial results for fiscal year 2020
On March 09, 2021, Hallador Energy Company announced its financial results for fiscal 2020.
Financial highlights for fiscal 2020
There is no negative development that could be the reason for its loss outside of Friday hours. We had some good news yesterday and we hope the HNRG title performs better on Wednesday.