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Tag: TRCH stock

  • Here is how Torchlight Energy Resources Inc. (TRCH) performed on Friday?

    Torchlight Energy Resources Inc. (TRCH) shares lost 6.06% in after-hours on Friday, June 25, 2021, and closed the week at $4.65 per share. Earlier in the morning session of Friday, TRCH’s stock gained 4.21% to close Friday’s morning session at $4.95 per share. TRCH shares have risen 1212.30% over the last 12 months, and they have moved down 21.05% in the past week. Over the past three months, the stock has gained 167.57%, while over the past six months, it has plummeted 686.46%.

    Let’s discuss its recent news and developments briefly.

    Special Series A Preferred Stock dividend and 1:2 stock split

    On June 25, 2021, Torchlight Energy Resources, Inc announced that it paid the special Series A Preferred Stock dividend on a 1 for 1 basis to its stockholders of record on June 24, 2021.

    Torchlight also implemented a 1 for 2 reverse stock split of its Common Stock. The reverse split was approved by the stockholders of Torchlight at its Special Shareholder meeting held on June 11, 2021, and will become effective aftermarket closing on June 25, 2021.

    Completion of the business combination with Metamaterial Inc

    On June 25, 2021, Torchlight also announced the completion of necessary steps to close the business combination with Metamaterial Inc., and therefore Torchlight expects that the business combination will be effective on June 28, 2021, as of 12:01 AM EDT.

    Torchlight’s name will be changed to “Meta Materials Inc.” and its common stock will begin trading on NASDAQ under the ticker symbol MMAT, from June 28, 2021.

    Business combination announcement

    On December 14, 2020, Torchlight Energy Resources and Metamaterial Inc signed a definitive agreement for a business combination of Torchlight and Metamaterial. Torchlight shareholders will retain an approximate 25% equity whereas shareholders of Metamaterial will get 75% equity interest in a combined company.

    Special dividend announcement

    On June 14, 2021, Torchlight Energy Resources, Inc declared a Special Dividend of Series A Preferred Stock to be issued on a one-for-one basis to Common Stockholders of Record as of the close of market trading on June 24, 2021 (subject to adjustment for any reverse split of Torchlight’s common stock after the record date but before the dividend is paid).

    Special stockholders meeting

    On June 11, 2021, Torchlight Energy Resources, Inc announced the results from the special meeting of its stockholders, which was held virtually earlier today in connection with the previously announced business combination transaction with Metamaterial, Inc.

    All five proposals to be voted on at the special meeting were approved by the Torchlight stockholders. Torchlight will file a Form 8-K to disclose the final results of the stockholder vote.

    Conclusion

    As of today (June 28) Torchlight Energy Resources’ name will be changed and it will begin trading on NASDAQ under the ticker symbol MMAT so we wish MMAT to surge exceptionally well on its first day and will analyze its performance after few days.

  • How Come The Torchlight (TRCH) Stock Grew 7% After Hours?

    Torchlight Energy Resources Inc. (TRCH) shares were up 7.06% to $10.62 in after-hours trading at last check. During Monday’s regular trading session, Torchlight gained 58.21% to close at $9.92. The number of TRCH shares traded was 378.95 million, compared with an average of 26.41 million per day over the past 50 days.

    In the last year, TRCH shares have increased by 2481.99%, and they increased by 177.09% in the past week. For the past three months, TRCH stock has advanced by 333.19%, while over the past six months; it has declined by 2059.34%. A total of 129.61 million shares are outstanding, and the market value of the company currently stands at $1.24 billion. On extending the deadline for its business combination transaction, TRCH stock has been gaining traction.

    What was that move all about?

    Located in Plano, Texas, Torchlight is an Exploration and Production (E&P) company with a high growth rate. In order to achieve its primary objective, TRCH purchases and develops domestic oil fields. As an explorer, TRCH targets well-established plays such as the Permian Basin in West and Central Texas.

    Yesterday, Torchlight announced that TRCH and Metamaterial Inc have extended the date by which the business combination transaction (the “Arrangement”) needs to be completed to June 30, 2021.

    • By extending the record date until June 24, 2021, the special Series A Preferred Stock dividend, declared on June 14, 2021, can be paid on June 25th.
    • Dividends will be paid on June 25th for Series A Preferred Stock.
    • In order to close the Arrangement by June 30, 2021, TRCH will need to obtain approvals from required authorities.

    In contrast, Bloomberg wrote about the sudden rise in the Torchlight stock price, that its shares more than doubled in a week following a discussion on Reddit about a possible short squeeze.

    In December, Torchlight announced plans to merge with Metamaterial, a Canadian company noted for its expertise in “complex films and metamaterials.”

    Will rising demand boost TRCH?

    Oil prices have rebounded from a collapse in demand caused by the pandemic, which may help Torchlight (TRCH) to increase its share price. Nevertheless, TRCH isn’t turning a profit like the US shale industry is, which is poised to generate some $30 billion of free cash this year. In its most recent filing, TRCH reported that its oil and natural gas revenues for the first three months of 2021 were 97% lower than they were a year ago.

  • Torchlight Energy Resources, Inc. (TRCH) Stock Continues Long-Term Upward Trend Amid Market Dominated by Meme Stocks

    Torchlight Energy Resources, Inc. (TRCH) Stock Continues Long-Term Upward Trend Amid Market Dominated by Meme Stocks

    Torchlight Energy Resources, Inc. (TRCH) stock prices were up by 3.65% as of the market closing on June 11th, 2021, bringing the price per share up to USD$3.12 at the end of the trading day. Subsequent pre-market fluctuations have seen the stock rise by 7.37%, bringing it up to USD$3.35.

    Meme Stock Craze

    Several of the recent trading days having been dominated by the meme stock phenomenon, wherein members of the online social media community, Reddit, collaborate on pumping “meme” stocks that have no apparent rational basis for being invested in. These underdog companies, sometimes on the brink of collapse, are resuscitated (often only temporarily) by the fortuitous whims of the Reddit-driven retail investors. With no recent news or fundamental developments that justify significant upswings in stock prices, TRCH, too, seems to be the latest target of the meme stock craze.

    Promising Track Record

    Interestingly, however, this seems to be a long-term trend for the company, rather than a short-term surge in price. The past year has seen the stock price skyrocket by 576%, with the last 3 years representing a 90% increase in the value of the company’s equity. The most recent month had seen a 13% increase, with the price rising through both the latest trading day and the subsequent pre-market hours.

    Shaky Foundation

    In their recently disclosed financial statements, TRCH reported a meagre USD$111,230 in revenue over a 12-month period. This fails to signal confidence in the management and the execution of their business plan. Nevertheless, the stock has enjoyed consistent growth in stock price. It seems much more likely that investors are banking on the company’s untapped potential rather than its accomplishments. This is atypical because of the risks involved. Investors might be hoping for the company to stumble upon fossil fuels with an exploration program before it finds itself to have run out of money.

    Sustaining Growth

    Pinning hopes on potential future developments entails a very probably need for infusions of capital to sustain the company until it can support itself. This puts them at the mercy of capital markets, where share price itself impact the value of the shares themselves, as determiners of costs of capital. From here, companies can go on to execute their intended strategies and provide returns on investments made; or companies can suffer heavy losses and eventual de-listing. TRCH has consistently rewarded its investors who took the high risk.

    Future Outlook for TRCH

    Armed with a solid liquidity position from their private placement, as well as the fortuitous surge in the value of their equity, TRCH is poised to capitalize on the opportunities presented to it. The company is keen to continue its trajectory of success and usher in more organic growth over the long term. Current and potential investors are hopeful that the management will leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • How come Torchlight Energy Resources, Inc. (NASDAQ:TRCH) stock soared in the AH?

    Despite no recent news releases or company announcements, Torchlight Energy Resources, Inc. (NASDAQ: TRCH) stock surged almost 25.95% to $0.799 in after-hours. So, what does it mean? And why did TRCH stock trend up today?

    With these questions in the head, the last information available to investors was published by Torchlight Energy Resources on December 3, 2020.

    Torchlight Energy Resources, Inc. (NASDAQ: TRCH), on the above-given date, officially revealed that the developer of its Hazel Project had begun the flow back phase on the Flying B Ranch # 4H.

    Due to the amount of water used in the stimulation, flowback could take considerable time. As soon as the operator has hydrocarbon or output indications, those details will be announced by the Firm.

  • What changed for these 49 stocks in Pre Market Session

    What changed for these 49 stocks in Pre Market Session

    Lizhi Inc. (LIZI) stock plunged -8.14% to $4.4 in the pre-market trading after reporting that it entered in-car audio collaboration with Xpeng Motors. The most recent rating by Citigroup, on February 18, 2020, is a Buy.
    American Airlines Group Inc. (NASDAQ: AAL) shares are trading up 4.72% at $16.85 at the time of writing. Company’s 52-week ranged between $8.25 to $30.78.
    FuelCell Energy Inc. (FCEL) is up more than 5.01% at $7.75 in pre-market hours Friday December 04, 2020. The firm recently declared the pricing of its underwritten public offering of 34,518,539 shares of its common stock, at a public offering price of $6.50 per share. The stock had jumped over 1.93% to $7.38 in the last trading session.
    Before the trading started on December 04, 2020, AMC Entertainment Holdings Inc. (AMC) is up 5.51% to reach $3.83. It has been trading in a 52-week range of $1.95 to $8.78.
    Cinemark Holdings Inc. (CNK) stock soared 6.02% to $14.1 in the pre-market trading. The most recent rating by Loop Capital, on November 19, 2020, is a Hold.
    Iterum Therapeutics plc (ITRM), a Biotechnology company, dropped about -3.8% at $0.809 in pre-market trading Friday.
    Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) shares are trading up 3.7% at $26.36 at the time of writing following its announcement extension of suspension of voyages. Company’s 52-week ranged between $7.03 to $59.78. Analysts have a consensus price target of $26.
    Before the trading started on December 04, 2020, Jaguar Health Inc. (JAGX) is up 7.84% to reach $0.399. It has been trading in a 52-week range of $0.19 to $1.08.
    Transocean Ltd. (RIG), a Oil & Gas Drilling company, rose about 4.43% at $2.12 in pre-market trading Friday after declaring amendments to certain financing documents and internal reorganization transactions to resolve allegations contained in purported notices of default.
    Novan Inc. (NOVN) stock soared 19.92% to $0.67 in the pre-market trading. The most recent rating by Piper Jaffray, on January 06, 2020, is a Neutral.
    Li Auto Inc. (LI) lost over -2.48% at $31.51 in pre-market trading Friday December 04, 2020 following declaration its pricing of follow-on public offering of American depositary shares.
    Southwestern Energy Company (NYSE: SWN) shares are trading up 2.13% at $2.88 at the time of writing. Company’s 52-week ranged between $1.06 to $3.90. Analysts have a consensus price target of $2.40.
    Occidental Petroleum (OXY) is up more than 3.23% at $16.92 in pre-market hours Friday December 04, 2020. The company recently reported the release of its 2020 Climate Report, which provides a pathway detailing milestones to achieve its net-zero aspirations. The stock had jumped over 3.15% to $16.39 in the last trading session.
    Torchlight Energy Resources Inc. (TRCH) is up more than 6.9% at $0.48 in pre-market hours Friday December 04, 2020. The stock had jumped over 15.13% to $0.45 in the last trading session.
    TransGlobe Energy (TGA) grew over 2.82% at $0.659 in pre-market trading today following its agreement to merge, extend and modernize its eastern Desert concessions.
    Before the trading started on December 04, 2020, Catabasis Pharmaceuticals Inc. (CATB) is up 2.07% to reach $1.97. It has been trading in a 52-week range of $1.25 to $8.59.
    Inovio Pharmaceuticals Inc. (INO) stock moved up 8.07 percent to $13.53 in the pre-market trading after declaring the execution of an agreement with Kaneka Eurogentec S.A., for Eurogentec to manufacture INOVIO’s COVID-19 vaccine candidate INO-4800 at their industry-leading GMP plasmid production scales.
    Clovis Oncology Inc. (CLVS) is down more than -4.81% at $5.15 in pre-market hours Friday December 04, 2020. The stock had jumped over 11.09% to $5.41 in the last trading session.
    Cinedigm Corp. (CIDM) gained over 71.43% at $0.96 in pre-market trading Friday December 04, 2020 after reporting that its eight additional linear streaming channels are now Available on Rad’s fast-growing global streaming platform.
    Onconova Therapeutics Inc. (ONTX) stock plunged -1.9% to $0.3143 in the pre-market trading. The most recent rating by H.C. Wainwright, on March 01, 2018, is a Buy.
    Marvell Technology Group Ltd. (MRVL) stock plunged -5.1% to $43.2 in the pre-market trading after announcing a quarterly dividend of $0.06 per share of common stock payable on January 14, 2021 to shareholders of record as of December 23, 2020. The most recent rating by Craig Hallum, on October 30, 2020, is a Buy.
    QEP Resources Inc. (QEP) stock soared 5.0% to $2.1 in the pre-market trading. The most recent rating by JP Morgan, on July 20, 2020, is a Neutral.
    Arlo Technologies Inc. (NYSE: ARLO) shares are trading up 3.09% at $7.0 at the time of writing. The company recently revealed that Matthew McRae, CEO, and Gordon Mattingly, CFO, will present at the Raymond James Virtual Technology Investors Conference on Tuesday, December 8, 2020. Company’s 52-week ranged between $1.20 to $7.75. Analysts have a consensus price target of $6.
    Before the trading started on December 04, 2020, Nxt-ID Inc. (NXTD) is down -3.91% to reach $0.41. It has been trading in a 52-week range of $0.21 to $0.89.
    Halliburton Company (HAL) gained over 3.66% at $18.68 in pre-market trading Friday December 04, 2020 following its deal with Accenture (ACN), to accelerate Halliburton’s digital supply chain transformation and support digitalization within the Company’s manufacturing function.
    United Microelectronics (UMC) stock soared 10.32% to $8.55 in the pre-market trading. The most recent rating by Credit Suisse, on October 12, 2020, is an Outperform.
    Before the trading started on December 04, 2020, Cloudera Inc. (CLDR) is up 14.85% to reach $13.3 after reporting results for its third quarter of fiscal 2021, ended October 31, 2020. It has been trading in a 52-week range of $4.76 to $14.20.
    Before the trading started on December 04, 2020, Isoray Inc. (ISR) is down -4.92% to reach $0.47. It has been trading in a 52-week range of $0.35 to $1.06.
    iBio Inc. (AMEX: IBIO) shares are trading down -0.66% at $1.51 at the time of writing. The firm recently reported an agreement with Belgium-based ATB Therapeutics to produce its bioengineered antibody-toxin fusion proteins using iBio’s FastPharming® System. Company’s 52-week ranged between $0.14 to $7.45. Analysts have a consensus price target of $2.55.
    Centennial Resource Development Inc. (CDEV) stock soared 3.13% to $1.32 in the pre-market trading. The most recent rating by MKM Partners, on November 30, 2020, is a Neutral.
    BioCryst Pharmaceuticals Inc. (BCRX) is up more than 24.44% at $6.39 in pre-market hours Friday December 04, 2020 following the FDA Approval of ORLADEYO™ (berotralstat), First Oral, Once-daily Therapy to prevent attacks in Hereditary Angioedema patients. The stock had jumped over 1.88% to $5.14 in the last trading session.
    Borr Drilling Limited (BORR) is up more than 6.86% at $0.854 in pre-market hours Friday December 04, 2020. The stock had dropped over -1.78% to $0.80 in the last trading session.
    Before the trading started on December 04, 2020, Blink Charging Co. (BLNK) is up 4.14% to reach $23.64 after declaring an agreement with JSC Management Group, a large Burger King franchisee, to deploy numerous EV charging stations at key Burger King locations across the Northeast. It has been trading in a 52-week range of $1.25 to $34.67.
    Banco Santander S.A. (SAN) grew over 3.74% at $3.33 in pre-market trading today.
    Kandi Technologies Group Inc. (NASDAQ: KNDI) shares are trading up 2.98% at $8.3 at the time of writing. Company’s 52-week ranged between $2.17 to $17.45.
    InVivo Therapeutics Holdings Corp. (NVIV) lost over -4.67% at $0.6101 in pre-market trading Friday December 04, 2020.
    Aehr Test Systems (AEHR), a Semiconductor Equipment & Materials company, dropped about -8.74% at $1.88 in pre-market trading Friday after receiving $4.3 million order for initial FOX-XP™ test cell for production test of mobile sensor devices.
    ICICI Bank Limited (IBN) grew over 4.48% at $13.75 in pre-market trading today.
    NanoVibronix Inc. (NAOV) stock moved down -7.96 percent to $1.04 in the pre-market trading following the announcement of $6.0 million private placement.
    DocuSign Inc. (DOCU), a Software – Application company, rose about 4.43% at $241.25 in pre-market trading Friday.
    Dada Nexus Limited (DADA) is up more than 4.4% at $47.2 in pre-market hours Friday December 04, 2020 after reporting that Dada Now has partnered with dozens of cake chain brands across China, doubling the number of cooperating stores year-over-year as of November 2020. The stock had dropped over -15.65% to $45.21 in the last trading session.
    Salarius Pharmaceuticals Inc. (SLRX) stock moved up 1.85 percent to $1.1 in the pre-market trading.
    Auris Medical Holding Ltd. (NASDAQ: EARS) shares are trading down -3.23% at $3.3 at the time of writing after it pricing $8,000,000 common shares offering priced at-the-market. Company’s 52-week ranged between $0.65 to $6.60. Analysts have a consensus price target of $2.50.
    Acasti Pharma Inc. (ACST) lost over -2.94% at $0.33 in pre-market trading Friday December 04, 2020.
    Micro Focus International plc (MFGP) is up more than 6.3% at $6.07 in pre-market hours Friday December 04, 2020. The firm recently declared the findings of its ‘Endless Modernization’ research with Standish Group. The stock had jumped over 14.66% to $5.71 in the last trading session.
    BP p.l.c. (BP), a Oil & Gas Integrated company, rose about 4.54% at $22.33 in pre-market trading Friday.
    Tantech Holdings Ltd (NASDAQ: TANH) shares are trading up 4.27% at $1.71 at the time of writing after announcing the launch by its subsidiary, Shangchi Automobile Co., Ltd. (“Shangchi Automobile”), of its newest highly innovative driverless and autonomous street sweeper. Company’s 52-week ranged between $0.81 to $3.65.
    Trine Acquisition Corp. (TRNE) gained over 7.05% at $15.49 in pre-market trading Friday December 04, 2020.
    Enlivex Therapeutics Ltd. (ENLV) grew over 5.26% at $12.0 in pre-market trading today after reporting positive interim results of an investigator-initiated Phase II clinical trial evaluating AllocetraTM in severe and critical COVID-19 patients.