For the readers interested in the stock health of Torchlight Energy Resources Inc. (TRCH). It is currently valued at $2.12. When the transactions were called off in the previous session, Stock hit the highs of $2.37, after setting-off with the price of $2.24. Company’s stock value dipped to $1.87 during the trading on the day. When the trading was stopped its value was $2.32.
Recently in News on April 15, 2021, Torchlight Provides Update on Proposed Business Combination Timing. Torchlight Energy Resources, Inc. (NASDAQ:TRCH), an oil and gas exploration company (“Torchlight”), announced today that it is continuing to work towards the completion of the regulatory requirements necessary to consummate the previously announced business combination (the “Arrangement”) with Metamaterial Inc. (“Metamaterial”). Torchlight has filed its 2020 Annual Report on Form 10-K, parts of which are required to be incorporated by reference into the definitive proxy statement for the special meeting of Torchlight’s stockholders in connection with the Arrangement. Torchlight expects to file a revised preliminary proxy statement with the SEC shortly. Torchlight and Metamaterial have extended the date by which Torchlight must give notice of and call its special meeting of stockholders to April 30th, which Torchlight believes will provide enough time to clear the definitive proxy statement with the SEC, set a record date for the special meeting of stockholders, and mail the definitive proxy statement to Torchlight stockholders of record as of the record date. You can read further details here
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Torchlight Energy Resources Inc. had a pretty favorable run when it comes to the market performance. The 1-year high price for the company’s stock is recorded $4.83 on 02/16/21, with the lowest value was $0.68 for the same time period, recorded on 01/05/21.
Torchlight Energy Resources Inc. (TRCH) full year performance was 412.73%
Price records that include history of low and high prices in the period of 52 weeks can tell a lot about the stock’s existing status and the future performance. Presently, Torchlight Energy Resources Inc. shares are logging -56.21% during the 52-week period from high price, and 901.89% higher than the lowest price point for the same timeframe. The stock’s price range for the 52-week period managed to maintain the performance between $0.21 and $4.83.
The company’s shares, operating in the sector of Energy managed to top a trading volume set approximately around 14214729 for the day, which was evidently lower, when compared to the average daily volumes of the shares.
When it comes to the year-to-date metrics, the Torchlight Energy Resources Inc. (TRCH) recorded performance in the market was 202.14%, having the revenues showcasing 28.18% on a quarterly basis in comparison with the same period year before. At the time of this writing, the total market value of the company is set at 337.11M, as it employees total of 4 workers.
The Analysts eye on Torchlight Energy Resources Inc. (TRCH)
During the last month, 0 analysts gave the Torchlight Energy Resources Inc. a BUY rating, 0 of the polled analysts branded the stock as an OVERWEIGHT, 0 analysts were recommending to HOLD this stock, 0 of them gave the stock UNDERWEIGHT rating, and 0 of the polled analysts provided SELL rating.
According to the data provided on Barchart.com, the moving average of the company in the 100-day period was set at 1.75, with a change in the price was noted +1.61. In a similar fashion, Torchlight Energy Resources Inc. posted a movement of +322.58% for the period of last 100 days, recording 19,850,982 in trading volumes.
Total Debt to Equity Ratio (D/E) can also provide valuable insight into the company’s financial health and market status. The debt to equity ratio can be calculated by dividing the present total liabilities of a company by shareholders’ equity. Debt to Equity thus makes a valuable metrics that describes the debt, company is using in order to support assets, correlating with the value of shareholders’ equity The total Debt to Equity ratio for TRCH is recording 1.31 at the time of this writing. In addition, long term Debt to Equity ratio is set at 1.31.
Technical rundown of Torchlight Energy Resources Inc. (TRCH)
Raw Stochastic average of Torchlight Energy Resources Inc. in the period of last 50 days is set at 34.35%. The result represents downgrade in oppose to Raw Stochastic average for the period of the last 20 days, recording 71.61%. In the last 20 days, the company’s Stochastic %K was 85.25% and its Stochastic %D was recorded 90.86%.
Considering, the past performance of Torchlight Energy Resources Inc., multiple moving trends are noted. Year-to-date Price performance of the company’s stock appears to be pessimistic, given the fact the metric is recording 202.14%. Additionally, trading for the stock in the period of the last six months notably improved by 624.32%, alongside a boost of 412.73% for the period of the last 12 months. The shares increased approximately by 16.53% in the 7-day charts and went up by 15.57% in the period of the last 30 days. Common stock shares were driven by 28.18% during last recorded quarter.