Torchlight Energy Resources (NASDAQ:TRCH) Stock Price Passes Below 200-Day Moving Average of $0.46

Torchlight Energy Resources Inc (NASDAQ:TRCH) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.46 and traded as low as $0.31. Torchlight Energy Resources shares last traded at $0.32, with a volume of 813,318 shares changing hands.

Separately, Zacks Investment Research lowered shares of Torchlight Energy Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, May 26th.

The company has a debt-to-equity ratio of 1.06, a current ratio of 0.12 and a quick ratio of 0.12. The stock’s 50-day moving average is $0.36 and its two-hundred day moving average is $0.46.

Torchlight Energy Resources (NASDAQ:TRCH) last posted its quarterly earnings data on Friday, June 5th. The oil and gas company reported ($0.05) earnings per share for the quarter. Torchlight Energy Resources had a negative return on equity of 69.96% and a negative net margin of 2,280.00%. The firm had revenue of $0.09 million during the quarter.

An institutional investor recently bought a new position in Torchlight Energy Resources stock. PNC Financial Services Group Inc. bought a new position in shares of Torchlight Energy Resources Inc (NASDAQ:TRCH) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 75,000 shares of the oil and gas company’s stock, valued at approximately $29,000. PNC Financial Services Group Inc. owned 0.09% of Torchlight Energy Resources as of its most recent filing with the Securities and Exchange Commission (SEC). 7.12% of the stock is owned by institutional investors and hedge funds.

Torchlight Energy Resources Company Profile (NASDAQ:TRCH)

Torchlight Energy Resources, Inc, through its subsidiaries, engages in the acquisition, exploration, exploitation, and/or development of oil and natural gas properties in the United States. As of December 31, 2018, it had interests in four oil and gas projects, including the Orogrande project in Hudspeth County, Texas; Hazel project in Sterling, Tom Green, and Irion Counties, Texas; Winkler project in Winkler County, Texas; and Hunton wells in partnership with Husky Ventures in central Oklahoma.

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