Hallador Energy (HNRG) Plans $50M Public Offering of Common Stock

Written by Emily J. Thompson, Senior Investment Analyst

Source: seekingalpha

Updated: Jan 14 2026

0mins

HNRG+6.82%

Should l Buy HNRG?

Source: seekingalpha

Public Offering Plan: Hallador Energy plans to offer $50 million of its common stock, with all shares issued by the company, which is expected to strengthen its capital structure and support future expansions.
Underwriter Option: Underwriters are granted a 30-day option to purchase up to an additional 15% of shares, a flexibility that may attract more investor participation and enhance market confidence.
Clear Use of Proceeds: The company intends to use net proceeds for general corporate purposes, including initial commitments for equipment to support a planned natural gas generating facility, which will help enhance its generation capacity and market competitiveness.
Strong Market Demand: Amid robust market demand, Hallador Energy is seeking a 50% generation capacity expansion through its ERAS application, indicating the company's positive outlook for future growth.

Trade with 70% Backtested Accuracy

Stop guessing "Should I Buy HNRG?" and start using high-conviction signals backed by rigorous historical data.

HNRG

$20.06+Infinity%1D

Analyst Views on HNRG

Wall Street analysts forecast HNRG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HNRG is 28.50 USD with a low forecast of 28.00 USD and a high forecast of 29.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

2 Analyst Rating

2 Buy

0 Hold

0 Sell

Moderate Buy

Current: 18.780

Low

28.00

Averages

28.50

High

29.00

Current: 18.780

Low

28.00

Averages

28.50

High

29.00

Northland

Jeff Grampp

Outperform

maintain

$23 -> $29

2025-11-11

Reason

Northland

Jeff Grampp

Price Target

$23 -> $29

AI Analysis

2025-11-11

maintain

Outperform

Reason

Northland analyst Jeff Grampp raised the firm's price target on Hallador Energy to $29 from $23 and keeps an Outperform rating on the shares. The company, which is continuing to have positive discussions with potential customers on its larger-scale PPA opportunity, seems to be having enough positive conversations that it is now evaluating adding 525 MW of new capacity to its Merom site, aiming to be online by Q4 2028, the analyst tells investors.

Alliance Global

Buy

maintain

$24 -> $28

2025-11-11

Reason

Alliance Global

Price Target

$24 -> $28

2025-11-11

maintain

Buy

Reason

Alliance Global raised the firm's price target on Hallador Energy to $28 from $24 and keeps a Buy rating on the shares after the company reported "strong" Q3 results that beat both the Street and the firm's estimates. The firm believes Hallador is positioned for multiple expansion in coming quarters as it sees the company being well positioned to capitalize on continued growth in power demands driven by data center and AI rollouts, the analyst tells investors.

Unlock Full Analyst Thesis， Get the complete breakdown of rating reason for HNRG

Unlock Now

About HNRG

Hallador Energy Company is an energy company operating in the state of Indiana. The Company's segments include Coal Operations (operated by Sunrise Coal, LLC) and Electric Operations (operated by Hallador Power Company, LLC). The Coal Operations segment includes the operating mining complexes Oaktown 1 and 2 underground mines, Prosperity surface mine, Freelandville surface mine, and Carlisle wash plant. The Electric Operations segment includes the electric power generation facilities of the Merom Power Plant. The Oaktown Mining Complex is a coal mining and processing operation located in Knox and Sullivan counties, Indiana, and Crawford and Lawrence counties, Illinois. The Oaktown Mining Complex operations consist of two active underground mines, Oaktown Fuels No. 1 Mine and Oaktown Fuels No. 2 Mine, and related infrastructure. The Company holds other recoverable coal reserves in the Illinois Basin (ILB). Its subsidiaries include Sunrise Energy, LLC, Sycamore Coal, Inc., and others.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

Utility Companies EPS Revision Grades Highlighted Ahead of Earnings Season

Jan 16 2026seekingalpha

EPS Revision Grades: Artesian Resources, Consolidated Water, and Clearway Energy all received an A+ EPS revision grade, indicating growing market confidence in their near-term performance ahead of earnings season.
Small-Cap Utility Performance: Hallador Energy and Spire also achieved A+ EPS revision grades, suggesting that these mid- and small-cap utility companies may outperform in the upcoming earnings reports, drawing investor interest.
Market Confidence Boost: Brookfield Infrastructure and Genie Energy received A grades for their EPS revisions, reflecting analysts' optimistic outlook on their future profitability, which could drive stock prices higher.
Industry Outlook: Algonquin Power & Utilities and Suburban Propane Partners both earned A grades, indicating that the utility sector may show outperforming results in 2026, attracting more investor attention.

Hallador Energy (HNRG) Prices $50M Public Offering at $18.00 per Share

Jan 14 2026seekingalpha

Offering Pricing: Hallador Energy announced the pricing of its public offering at $18.00 per share for approximately $50M, issuing 2,777,778 shares, despite a pre-market decline of 7.95% to $18.98, indicating market caution regarding the financing.
Underwriter Option: The company granted underwriters a 30-day option to purchase up to an additional 416,666 shares, enhancing liquidity and investor participation in the stock.
Use of Proceeds: The net proceeds from this offering are intended for general corporate purposes, which may include funding certain initial financial commitments, reflecting the company's strategic intent for expansion and investment.
Expected Closing Date: The public offering is expected to close on or about January 15, 2026, indicating the company's anticipation of future market conditions and the urgency of its funding needs.

Hallador Energy Company Prices 2.78M Share Offering at $18, Raising $50M

Jan 14 2026Globenewswire

Offering Pricing: Hallador Energy Company has priced its public offering of 2,777,778 shares at $18 each, expecting to raise approximately $50 million, indicating stable market demand for its stock.
Underwriter Selection: Texas Capital Securities is acting as the sole bookrunner for the offering, with Northland Capital Markets and A.G.P./Alliance Global Partners as co-managers, ensuring professionalism and efficiency in the issuance process.
Planned Use of Proceeds: Hallador intends to use the net proceeds from the offering for general corporate purposes, including funding initial financial commitments for its planned natural gas generating facility, highlighting the company's focus on future expansion.
Registration Statement Validity: The securities are being offered under an automatic shelf registration statement filed on January 13, 2026, ensuring compliance and transparency in the offering, which enhances investor confidence.