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Tag: NYSE:KOS

  • Pre-Market Gains For Kosmos Energy (KOS) Amid Acquisition Withdrawal

    Pre-Market Gains For Kosmos Energy (KOS) Amid Acquisition Withdrawal

    Kosmos Energy Ltd. (NYSE: KOS) has captured attention on the US stock charts following a key strategic decision. After declining to pursue an acquisition, KOS stock surged by 14.76% in the pre-market session, reaching $3.11 as of the latest update. This development reflects growing investor confidence in the company’s strategic focus.

    Withdrawal from Tullow Acquisition Discussions

    Kosmos Energy declared that it will not be submitting a formal offer to buy Tullow Oil plc. A possible all-share deal was alluded to in earlier, exploratory talks between the two organizations. In accordance with the limitations imposed by Rule 2.8 of the UK Takeover Code, KOS indicated that it will not move further with the purchase at this time. This choice demonstrates the company’s careful approach to major acquisitions and strategic assessment.

    Despite stepping back, Kosmos retains certain rights under the Code’s provisions. For instance, the company may reconsider its stance if Tullow’s Board agrees to set aside the restrictions, if a third party declares an intention to acquire Tullow, or if Tullow announces significant corporate changes such as a Rule 9 waiver or a reverse takeover. These contingencies allow KOS to remain agile while prioritizing its current strategic objectives.

    Background of the Preliminary Discussions

    Last week, KOS acknowledged Tullow’s disclosure regarding preliminary talks of a potential transaction. The topic of discussion was Kosmos’ potential all-share bid for Tullow. However, the company made no guarantees regarding the certainty or structure of any such offer. The company explicitly reserved the right to modify the terms and structure of any future proposals, highlighting its flexible yet cautious approach.

    Regulatory Compliance and Timeline

    Kosmos adhered to regulatory timelines stipulated by Rule 2.7 of the UK Takeover Code. By January 9, 2025, the company was required to either announce a firm intention to make an offer or confirm its decision not to proceed. The latest announcement formalizes the company’s choice to withdraw from the acquisition pursuit, marking it as a statement governed by Rule 2.8 of the Code.

    Market Implications

    This strategic retreat has been positively received by the market, as reflected in the rising share value. Kosmos’ prudent decision-making process, paired with its ability to revisit the acquisition under specific circumstances, underscores its commitment to creating shareholder value while maintaining strategic flexibility.

  • How Did The Kosmos (KOS) Stock Rise 5% In Extended Trades?

    How Did The Kosmos (KOS) Stock Rise 5% In Extended Trades?

    Kosmos Energy Ltd. (KOS) gained 4.33% to trade at $2.41 in after-hours trading on Friday. Kosmos closed at $2.31 after falling -7.23% during the regular session. There were 9.56 million shares traded of KOS stock, which is a larger amount than the average volume for the past three months of 7.02 million shares. During the regular session, KOS fluctuated from $2.30 to $2.60.

    With an earnings ratio of -0.79, KOS had negative earnings per share. On a year-to-date basis, KOS stock has lost -1.70% but the loss rises to -24.51% in the past five sessions. As of Friday, KOS has an SMA-50 of $3.20, higher than its 200-day moving average of $2.54. Also, the RSI of KOS trades at 28.65.

    As KOS stock recovered in the extended trades when no new information was available, so there may be some reason to believe that recent developments will reveal new information about the KOS.

    What has been happening at KOS lately?

    Kosmos is an independent deepwater oil and gas exploration and production company focusing on the Atlantic Margin. One of KOS’s key assets is a world-class gas development offshore Mauritania and Senegal, as well as production offshore Ghana, Equatorial Guinea, and the Gulf of Mexico. In keeping with its ethical, transparent, and professional ethos, KOS does things the right way. The KOS Business Principles identify the company’s commitment to transparency, ethics, human rights, environmental protection, and safety.

    A recent operational report by Kosmos Energy elaborated upon the company’s production, development, and exploration activities.

    • It is ahead of KOS’ financial results for the second quarter, which will be released on August 9, 2021.
    • With infill drilling planned in all three hubs, KOS has an active second half of the year, which is supportive of near-term production growth.
    • As well, KOS plans to relaunch exploration and appraisal drilling for the Winterfell appraisal well and Zora ILX well this quarter.
    • KOS is in a strong position to create shareholder value throughout the rest of 2021 as oil prices rise and its financial position strengthens.
    • In line with guidance, KOS’ sales volumes in the second quarter averaged 66,000 barrels of oil equivalent per day (boepd), with 4.5 cargos lifted.
    • During the second quarter, net production at KOS averaged approximately 52,000 boepd, a modest decline primarily due to lower production in Equatorial Guinea.
    • KOS plans to produce 53,000 to 57,000 boepd for the full year, with an additional 60,000 boepd expected to be produced from new wells by year-end.

    How does KOS anticipate the second quarter?

    As a result of higher sales volumes, strong operational performance in Ghana, and rising realized oil prices, Kosmos (KOS) generated positive cash flow in the second quarter that helped to reduce its net debt by around $100 million. With a new drilling rig has been sent to Equatorial Guinea for development drilling, and two new oil wells were drilled in Ghana and the U.S. Gulf of Mexico, KOS has been seeing increase in production across its hubs during the quarter.

  • 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.