Taking a Fresh Look at CNX Resources Corporation (CNX)

CNX Resources Corporation (CNX) is an interesting player in the Basic Materials space, with a focus on Independent Oil & Gas. The stock has been active on the tape, currently trading at $16.25, down from yesterday’s close by -5.08%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

CNX Resources Corporation (CNX) currently trades with a market capitalization of $3.71 Billion. That value represents a market adjusting for revenues that have been falling by -210.97 % on a quarterly year/year basis as of the company’s last quarterly report.

You can get a sense of how sustainable that is by a levered free cash flow of $15.84 Million over the past twelve months. Generally speaking, earnings are expected to fall in coming quarters. Analysts are forecasting earnings of $0.12 on a per share basis this quarter. Perhaps, that suggests something about why 1.44% of the outstanding share supply is held by institutional investors.

Technical Analysis

We’ve taken a serious look at this stock from a fundamental perspective, but the tale of the tape may offer more hints about what lies under the surface. Looking at the stock’s movement on the chart, CNX Resources Corporation recorded a 52-week high of $18.08. It is now trading 1.83% off that level. The stock is trading $14.81 its 50-day moving average by -1.44%. The stock carved out a 52-week low down at $11.30.

In recent action, CNX Resources Corporation (CNX) has made a move of +24.71% over the past month, which has come on Strong relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 16.68, and it’s gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 7.17% with $220.59 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of CNX.

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