Hammerhead Energy Inc.'s (TSE:HHRS) one-year price target has seen an upward adjustment of 10.67%, with the new target set at $23.89 per share, according to data released by Fintel on Wednesday. This updated forecast reflects a potential increase of 34.01% from the company's current closing price of $17.83 per share.
The new price target is a compilation of various analyst reports, with predictions ranging from a low of $21.21 to a high of $26.78 per share. It marks a considerable surge from the previous estimate of $21.59, which was made on October 4, 2023.
While the price target has been revised, fund sentiment towards Hammerhead Energy remains unchanged. One institution continues to hold a position in HHRS, increasing its average portfolio weight by 37.57%. Total institutional ownership saw an uptick of 3.98%, reaching 20K shares in the last quarter.
Fidelity Nasdaq Composite Index Fund (FNCMX) is the institution holding these 20K shares, accounting for 0.02% of company ownership. This represents an increase of 3.82% from its previous filing and also indicates a significant boost in its HHRS portfolio allocation by 37.57% during the last quarter.
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