Walter Industries, Inc.
NYSE: WLT
http://www.dailyfinance.com/markets/movers
NEW YORK (TheStreet) -- Walter Energy (WLT_) shares were soaring Tuesday by more than 15% to $13.47 on more than double its average three month trading volume as bullish sentiment continued to pour in following a Morgan Stanley report reassuring investors that this metallurgical coal producer has more than ample upside potential following its dramatic plunge Friday.
Analysts Evan Kurtz, Alexander Levy and Marcus Lindberg published a note Monday saying that they think the stock will be able to rise another 200%, following its steep declines Friday that saw shares plunge 17% to a four-year low of $11.76, as metallurgical coal prices stabilize following their deterioration and the company demonstrates that it's able to work out debt covenant relief with its banks while maintaining sufficient liquidity.
On Friday the stock dropped as the company confirmed reports that it had to withdraw $1.55 billion in credit refinancing plans due to unfavorable market conditions ahead of the 2015 maturity of the company's $494 million in term loans.
NEW YORK (TheStreet) -- Walter Energy (NYSE:WLT) hit a new 52-week low Friday as it is currently trading at $13.81, below its previous 52-week low of $13.94 with 6.6 million shares traded as of 12:40 p.m. ET. Average volume has been six million shares over the past 30 days.
Walter Energy has a market cap of $877.9 million and is part of the basic materials sector and metals & mining industry. Shares are down 59.1% year to date as of the close of trading on Thursday.
Walter Energy, Inc. produces and exports metallurgical coal for the steel industry. It also produces thermal and industrial coal, anthracite, metallurgical coke, coal bed methane gas, and other related products.
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