Tengasco Inc. [AMEX: TGC] gained 22.08% or 0.19 points to close at $1.06 with a heavy trading volume of 1011408 shares. The company report on November 14, 2020 that SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation of Tengasco, Inc. – TGC.
Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm headquartered at the Empire State Building in New York City, is investigating Tengasco, Inc. (“Tengasco” or the “Company”) (TGC) relating to its proposed merger with Riley Exploration – Permian, LLC. Under the terms of the agreement, Tengasco shareholders will only own 5% of the combined company.
The investigation focuses on whether Tengasco, Inc. and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company by 1) failing to conduct a fair process, and 2) whether and by how much this proposed transaction undervalues the Company.
It opened the trading session at $0.90, the shares rose to $1.09 and dropped to $0.84, the range by which the price of stock traded the whole day. The daily chart for TGC points out that the company has recorded 108.58% gains over the past six months. However, it is still -186.49% lower than its most recent low trading price.
If we look at the average trading volume of 1.29M shares, TGC reached to a volume of 1011408 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Tengasco Inc. [TGC]:
The Average True Range (ATR) for Tengasco Inc. is set at 0.20, with the Price to Sales ratio for TGC stock in the period of the last 12 months amounting to 3.45. The Price to Book ratio for the last quarter was 2.52, with the Price to Cash per share for the same quarter was set at 0.23.
Trading performance analysis for TGC stock
Tengasco Inc. [TGC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.59. With this latest performance, TGC shares gained by 6.00% in over the last four-week period, additionally plugging by 108.58% over the last 6 months – not to mention a rise of 100.00% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TGC stock in for the last two-week period is set at 57.99, with the RSI for the last a single of trading hit 62.30, and the three-weeks RSI is set at 55.67 for Tengasco Inc. [TGC]. The present Moving Average for the last 50 days of trading for this stock 0.9141, while it was recorded at 0.9336 for the last single week of trading, and 0.6835 for the last 200 days.
Tengasco Inc. [TGC]: A deeper dive into fundamental analysis
Tengasco Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.50 and a Current Ratio set at 3.80.
An analysis of insider ownership at Tengasco Inc. [TGC]
There are presently around $0 million, or 3.30% of TGC stock, in the hands of institutional investors. The top three institutional holders of TGC stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 206,785, which is approximately 13.253% of the company’s market cap and around 1.80% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 74,276 shares of the stock with an approximate value of $64000.0 in TGC stocks shares; and VANGUARD GROUP INC, currently with $41000.0 in TGC stock with ownership of nearly 0% of the company’s market capitalization.
4 institutional holders increased their position in Tengasco Inc. [AMEX:TGC] by around 25,348 shares. Additionally, 2 investors decreased positions by around 35,124 shares, while 3 investors held positions by with 294,952 shares. The mentioned changes placed institutional holdings at 355,424 shares, according to the latest SEC report filing. TGC stock had 1 new institutional investments in for a total of 1,110 shares, while 2 institutional investors sold positions of 35,124 shares during the same period.