Alta Mesa Resources, Inc. (ALTM) has Gapped Up by 2.15% on 1.2M Volume

Here are some reasons it may have gapped up:

1) Positive Earnings Report: ALTM beat analysts’ earnings estimates in its Q3 2024 report, released after the market closed on October 8th.
2) Increased Production: The company reported a 5% increase in oil and gas production in Q3 2024 compared to Q3 2023.
3) Acquisition News: ALTM announced plans to acquire a smaller oil and gas producer in the Permian Basin, which could expand its production capacity.

News Headlines (Last 5 Days):

October 9, 2024: Alta Mesa Resources Beats Earnings Estimates, Shares Gap Up
October 8, 2024: Alta Mesa Resources Announces Permian Basin Acquisition
October 7, 2024: Oil Prices Rise on Strong Demand, Alta Mesa Resources Benefits
October 6, 2024: Alta Mesa Resources Increases Production by 5% in Q3 2024
October 5, 2024: Alta Mesa Resources Partners with Chevron for Carbon Capture Project

Additional Information:

Short Interest: 10.2%
Analyst Ratings: 3 Buy, 4 Hold, 1 Sell
Technical Factors: The stock has broken above its 50-day moving average and is approaching its 200-day moving average.