David C. Hardie, a director at Hallador Energy Co. (NASDAQ:HNRG), recently sold shares in the company, according to a recent SEC filing. The stock has shown remarkable strength, gaining over 63% in the past six months and currently trades near its 52-week high of $14.00. The transactions, executed over three days from December 6 to December 10, 2024, involved the sale of a total of 37,610 shares. The sale prices ranged from $13.0129 to $13.0975 per share, amounting to a total value of $490,984. Following these transactions, Hardie, through Hallador Alternative Assets Fund LLC, now holds 2,006,431 shares of Hallador Energy. According to InvestingPro analysis, the company's current market capitalization stands at $575 million, though it faces profitability challenges with negative earnings in the last twelve months. For comprehensive insider trading patterns and 13 additional ProTips, subscribers can access the full analysis on InvestingPro.
In other recent news, Hallador Energy reported significant developments during its Third Quarter 2024 Earnings Call. The company's transition to an independent power producer has been marked by a non-binding term sheet with a global data center developer, potentially securing long-term energy contracts. Furthermore, Hallador Energy saw a gross margin increase in power generation and secured a $60 million prepaid power purchase agreement for 2025 and 2026. The company's net income in Q3 was $1.6 million, a turnaround from a $10.2 million loss in Q2.
However, coal sales have declined due to production cuts, and coal production costs remain high, although there is potential for improvement. The company is optimistic about growth driven by data center demand and favorable coal and power sales markets. These are recent developments that highlight Hallador Energy's strategic shifts towards long-term stability and growth in a challenging energy environment.
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