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  • Here is why Gran Tierra Energy Inc. (GTE) stock pop up in the after-hours on Monday?

    Here is why Gran Tierra Energy Inc. (GTE) stock pop up in the after-hours on Monday?

    Gran Tierra Energy Inc. (GTE) shares gained 7.71% in after-hours on Monday, July 12, 2021, and closed the day at $0.77 per share. Earlier, in the morning session, GTE’s stock lost 0.29% to close Monday’s normal session at $0.71 per share. GTE shares have risen 103.15% over the last 12 months, and they have moved down 6.67% in the past week. Over the past three months, the stock has gained 8.95%, while over the past six months, it has declined 62.11%.

    Let’s see what are the latest news and developments about GTE?

    Restoration of Production and Revised 2021 Guidance

    On July 12, 2021, Gran Tierra Energy Inc announced operational and financial updates and updated 2021 guidance.

    Operational update

    On May 17, 2021, several protests and blockades across Colombia impacted several key transportation routes throughout the country, resulting in the temporary shut-in of some of Gran Tierra’s wells and oil fields. After the successful negotiations by the Colombian government, all of the blockades are removed which has allowed the Company to commence restoring its oil production throughout its entire Colombian portfolio.

    Gran Tierra forecasts the second half of 2021 total production to average approximately 30,000-32,000 BOPD.

    Revised 2021 financial outlook

    Gran Tierra now expecting 27,500-28,500 BOPD(previously 28,000-30,000 BOPD), due to the above-mentioned problems in Colombia.

    Gran Tierra is expecting 2021 EBITDA of $265-285 million (previously $255-275 million) and 2021 cash flow of $215-235 million (previously $205-225 million).

    Annual Meeting of Stockholders

    On June 03, 2021, Gran Tierra Energy Inc announced the results of the Company’s semi-annual credit facility redetermination and the voting results from its annual meeting of stockholders held on June 2, 2021.

    The semi-annual redetermination of Gran Tierra’s bank-syndicated revolving credit facility has been completed. The next redetermination is scheduled for November 2021.

    All eight individuals nominated by Gran Tierra was also elected by the stockholders and they also voted for the ratification of the appointment of KPMG LLP as Gran Tierra’s independent registered public accounting firm for the fiscal year ending December 31, 2021.

    Recent financial results announcement

    On May 04, 2021, Gran Tierra Energy Inc released its financial and operating results for the quarter ended March 31, 2021.

    Q1 2021 financial highlights

    • The company suffered a net loss of $37.422 million in Q1 2021 compared to a net loss of $251.63 million inQ1 2020.
    • funds flow from operations was $29 million in Q1 2021 compared to $22.23 million in Q1 2020.
    • The Quarter’s expenditures were approximately $37 million compared to $44 million in Q1 2020.
    • Adjusted EBITDA was $42 million in Q1 2021 compared to $34.5 million in Q1 2020.

    Conclusion

    The recent financial and operational update was the reason behind its after-hours surge on Monday. We are pretty sure that GTE can continue its rally on Tuesday as well.

  • Gran Tierra Energy (NYSE American: GTE) took big spikes following the announcement of next year’s Outlook

    Gran Tierra Energy (NYSE American: GTE) shares exploded 77.28% to $0.54 in the after-hours after a strategic update, and the Company’s 2021 capital budget and production guidance were reported yesterday. Both dollar figures are in United States dollars. As otherwise specified, all production volumes are on a working interest basis until royalty and are expressed in oil barrels per day.

    The banks’ syndicate has agreed to amend the Gran Tierra bank-syndicated revolving credit facility as follows:

    Under the credit facility, the allocated funding base has been redefined to $215 million.

    $200 million, including $15 million prior approval of most lenders, would be readily available.

    In November 2022, the credit facility matures.

    The Corporation estimates the credit facility’s balance as of December 31, 2020, to be approximately $185 million.

    Gran Tierra aims to direct almost 60 percent of the 2021 capital budget to the sustained growth of the Acordionero field in the Middle Magdalena Valley Basin. Another 35 percent to the Putumayo Basin production activities and the remaining 5 percent to the Company’s portfolio of exploration-related activities in Colombia and Ecuador.

    Gran Tierra has a 100% operating interest in and running the critical properties of the Group in Colombia and Ecuador; this total ownership enables the Business the freedom to optimize its production and exploration programs for up or downshifts in oil prices.

  • 23 stocks making the biggest moves in the premarket today

    23 stocks making the biggest moves in the premarket today

    DPW Holdings Inc. (DPW) stock soared 2.5% to $7.37 in the pre-market trading after the company revealed that its power electronics business, Coolisys Technologies Corp., has established a program targeting both national and regional fast-food franchises to install the ACECool™ electric vehicle (“EV”) chargers as a part of a revenue sharing program.

    Naked Brand Group Limited (NASDAQ: NAKD) shares are trading up 9.19% at $0.2008 at the time of writing. Company’s 52-week ranged between $0.07 to $4.00.

    Ideanomics Inc. (IDEX) grew over 15.27% at $3.02 in pre-market trading today. The firm reported that it has increased its stake in California-based Solectrac, Inc. through a follow-on investment of an additional $1.3 million.

    Sundial Growers Inc. (SNDL), a Drug Manufacturers – Specialty & Generic company, rose about 72.38% at $0.4151 in pre-market trading Tuesday. The company recently publicized that it will participate in Cowen’s 2020 Boston Cannabis Conference, to be held virtually between November 30 and December 2, 2020.

    Li Auto Inc. (NASDAQ: LI) shares are trading up 6.99% at $46.69 at the time of writing. Company’s 52-week ranged between $14.31 to $40.81. Analysts have a consensus price target of $45.60.

    Tantech Holdings Ltd (TANH) grew over 23.36% at $2.64 in pre-market trading today following the firm declared that it has entered into a securities purchase agreement with institutional investors to purchase approximately $10 million of its common shares and registered warrants to purchase common shares in a registered direct offering as well as unregistered warrants to purchase common shares in a concurrent private placement.

    Marathon Patent Group Inc. (MARA), a Capital Markets company, rose about 16.26% at $5.72 in pre-market trading Tuesday.

    Ayro Inc. (AYRO) lost over -5.75% at $9.99 in pre-market trading Tuesday November 24, 2020 after the firm revealed that it has entered into definitive agreements with Carnegie Hudson Resources, an investment arm of Wanxiang America, and several existing institutional investors.

    Carnival Corporation & Plc (CCL) is up more than 6.49% at $19.36 in pre-market hours Tuesday November 24, 2020 after the recent declaration that the company has closed its previously announced registered direct offering of 10.4 million shares of its common stock at a price of $17.59 per share to a holder of its 5.75% Convertible Senior Notes due 2023.  The stock had jumped over 4.66% to $18.18 in the last trading session.

    Before the trading started on November 24, 2020, Occidental Petroleum Corporation (OXY) is up 7.42% to reach $16.93. It has been trading in a 52-week range of $8.52 to $47.58.

    Fuel Tech Inc. (FTEK) stock soared 57.45% to $4.44 in the pre-market trading. The most recent rating by H.C. Wainwright, on March 13, 2020, is a Neutral.

    Kandi Technologies Group Inc. (NASDAQ: KNDI) shares are trading up 8.17% at $16.15 at the time of writing as the firm publicized that it closed the registered direct offering of 8,849,560 units (the “Units”) of its securities at a purchase price per Unit of $11.30 on November 23, 2020, as previously announced on November 20, 2020. Company’s 52-week ranged between $2.17 to $17.40.

    Tilray Inc. (TLRY) grew over 19.31% at $7.97 in pre-market trading today after company’s publication that it has entered into a privately negotiated exchange agreement with a certain holder of its 5.00% Convertible Senior Notes due 2023.

    Barrick Gold Corporation (GOLD), a Gold company, dropped about -2.67% at $22.62 in pre-market trading Tuesday after Loncor Resources provided an update on its exploration activities within the Ngayu greenstone belt, where the Company has a joint venture with Barrick Gold (DRC) Limited as well as its own majority-owned projects.

    Switchback Energy Acquisition Corporation (SBE) grew over 20.04% at $40.91 in pre-market trading today.

    iBio Inc. (IBIO), a Biotechnology company, dropped about -3.4% at $1.42 in pre-market trading Tuesday. The healthcare company recently reported that the United States Patent and Trademark Office has issued U.S. Patent No. 10,844,392, entitled “Materials and Methods for Producing Endostatin Fusion Polypeptides in Plant Cells,” which, amongst other claims, covers a novel expression cassette that enhances the yield of endostatin fragments and variants using iBio’s FastPharming® System.

    Ferroglobe PLC (GSM) stock moved down -13.67 percent to $1.2 in the pre-market trading after the firm declared results for the third quarter of 2020.

    Longview Acquisition Corp. (LGVW) stock soared 24.26% to $16.9 in the pre-market trading.

    Ocean Power Technologies Inc. (NASDAQ: OPTT) shares are trading up 43.32% at $3.11 at the time of writing after the firm proclaimed that Jorge Franco has joined the Company as Regional Sales Representative based in Spain. Reporting to OPT Vice President, Global Sales Jeff Wiener, Mr. Franco will concentrate on opportunities in Southern Europe. Company’s 52-week ranged between $0.33 to $3.72.

    Kosmos Energy Ltd. (KOS) grew over 8.95% at $2.07 in pre-market trading today.

    Before the trading started on November 24, 2020, Ballard Power Systems Inc. (BLDP) is down -3.75% to reach $20.77 following announcement of US$250 million bought deal offering of common shares by the company. It has been trading in a 52-week range of $5.50 to $21.61.

    Bloom Energy Corporation (BE) stock soared 8.61% to $23.98 in the pre-market trading. The most recent rating by Raymond James, on February 20, 2020, is a Mkt perform.

    Energous Corporation (WATT) stock soared 9.13% to $2.51 in the pre-market trading. The most recent rating by Ladenburg Thalmann, on May 01, 2019, is a Buy.

    Canaan Inc. (NASDAQ: CAN) shares are trading up 7.31% at $5.43 at the time of writing. The technology company recently told that it will release its third-quarter 2020 financial results before the market opens on Monday, November 30, 2020. The company’s 52-week ranged between $1.76 to $13.00.