Why These Energy Stocks are Losing This Week

3. Hallador Energy Company (NASDAQ:HNRG

Share Price Decline Between Nov. 11 – Nov. 18: 14.2%

Hallador Energy Company (NASDAQ:HNRG) has evolved into a growing, vertically integrated Independent Power Producer (IPP) focused on meeting rising energy demands.

Hallador Energy Company (NASDAQ:HNRG) surged by over 21% after the company announced better-than-expected results for its third quarter on November 10. Hallador’s revenue grew by 40% YoY on the back of favorable summer weather, increased energy demand, and stronger natural gas prices. Net income also increased by 14 times compared to last year, driven by the favorable energy pricing environment, improved coal production efficiencies, and the $20 million prepaid forward power sales contract executed in Q3.

So the recent drop in share price could be attributed to profit-taking by investors following the significant rally, as well as to an overall market correction.