Weekly Performance Analysis for CNX Resources Corporation (CNX)


CNX Resources Corporation (NYSE:CNX) saw an upside of 1.81% to close Tuesday at $17.39 after adding $0.31 on the day. The 5-day average trading volume is 2,349,820 shares of the company’s common stock. It has gained $17.45 in the past week and touched a new high 5 times within the past 5 days. An average of 2,907,570 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,119,992.

CNX’s 1-month performance is -4.29% or -$0.78 on its low of $15.81 reached on 12/08/22. The company’s shares have touched a 52-week low of $13.68 and high of $24.21, with the stock’s rally to the 52-week high happening on 06/08/22. YTD, CNX has achieved 26.47% or $3.64 and has reached a new high 27 times. However, the current price is down -28.17% from the 52-week high price.

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Valuation Metrics

CNX stock has a beta of 1.26. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.79 while the price-to-book (PB) in the most recent quarter is 1.65, with the price to cash flow ratio at 5.68.

CNX Resources Corporation’s quick ratio for the period ended September 29 was 0.30, with the current ratio over the same period at 0.30. As well, the company’s long term debt to equity for the quarter ending September 29 was 0.97, while the total debt to equity was 1.14.. In terms of profitability, the gross margin trailing 12 months is 83.80%. The firm’s gross profit as reported stood at -$478.08 million against revenue of $756.79 million.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 17.1% to -$427.07 million, while revenue of $33.36 million was 107.81% off the previous quarter. Analysts expected CNX to announce $0.76 per share in earnings in its latest quarter, but it posted -$0.53, representing a -169.70% surprise. EBITDA for the quarter stood at more than -$92.2 million. CNX stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 6.66 billion, with total debt at $2.42 billion. Shareholders hold equity totaling $180.48 million.

Let’s look briefly at CNX Resources Corporation (CNX) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 27 December was 62.01% to suggest the stock is trending Neutral, with historical volatility in this time period at 31.59%.

The stock’s 5-day moving average is $16.87, reflecting a +7.74% or $1.25 change from its current price. CNX is currently trading +2.23% above its 20-day SMA, +10.48% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +0.29% and SMA200 by-5.02%.

Stochastic %K and %D was 96.64% and 84.55% and the average true range (ATR) pointed at 0.59. The RSI (14) points at 56.19%, while the 14-day stochastic is at 96.04% with the period’s ATR at 0.61. The stock’s 9-day MACD Oscillator is pointing at 0.36 and 0.56 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for CNX Resources Corporation (NYSE: CNX), BofA Securities reiterated its an Underperform rating for the company but lifted their price target by $25 to $23. Analysts offering their rating for CNX stock have a consensus rating for the stock as Hold. Currently, 2 brokerage advisors rate CNX as a “sell,”, while 7 advise that investors “Hold.” 2 analysts have rated the stock as underweight. 1 rates the stock as overweight while 0 have offered a “buy” rating.

What is CNX’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $17.00 and a high of $31.00, with their median price target at $19.00. Looking at these predictions, the average price target given by analysts is for CNX Resources Corporation (CNX) stock is $22.11.


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