Torchlight Energy Resources Inc. [TRCH] Is Currently -11.11 below its 200 Period Moving Avg: What Dose This Mean?

Torchlight Energy Resources Inc. [NASDAQ: TRCH] traded at a low on 03/15/21, posting a -11.11 loss after which it closed the day’ session at $2.56. The company report on March 15, 2021 that Torchlight Provides Update on Proposed Business Combination Timing.

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Torchlight Energy Resources, Inc. (NASDAQ:TRCH), an oil and gas exploration company (“Torchlight”), announced that it is continuing to work towards the completion of the regulatory requirements necessary to consummate the previously announced business combination (the “Arrangement”) with Metamaterial Inc. (“Metamaterial”). Torchlight will file its 2020 annual report on Form 10-K prior to filing the definitive proxy statement for the special meeting of Torchlight’s stockholders in connection with the Arrangement. Torchlight expects to hold the special meeting within the next 30 to 60 days, and expects the closing of the Arrangement to occur in the second quarter of 2021. Torchlight’s definitive proxy statement will announce the meeting date and record date for the special meeting. The record date to determine the Torchlight stockholders that will receive a dividend of the previously announced Series A Preferred Stock, which will entitle its holders to, among other things, receive cash dividends in connection with the sale of Torchlight’s oil and gas assets, will be determined after the special meeting is held. Metamaterial recently announced that its security holders have approved the special resolution relating to the Arrangement at Metamaterial’s annual general and special meeting.

The results of the trading session contributed to over 29811550 shares changing hands. Over the past one week, the price volatility of Torchlight Energy Resources Inc. stands at 17.67% while the volatility over the past one month is 20.63%.

The market cap for TRCH stock reached $344.81 million, with 98.24 million shares outstanding and 81.66 million shares in the current float. Compared to the average trading volume of 26.70M shares, TRCH reached a trading volume of 29811550 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Torchlight Energy Resources Inc. [TRCH]?

ROTH Capital have made an estimate for Torchlight Energy Resources Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 13, 2020.

The Average True Range (ATR) for Torchlight Energy Resources Inc. is set at 0.53, with the Price to Sales ratio for TRCH stock in the period of the last 12 months amounting to 1149.35. The Price to Book ratio for the last quarter was 16.00, with the Price to Cash per share for the same quarter was set at 0.00.

How has TRCH stock performed recently?

Torchlight Energy Resources Inc. [TRCH] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.36. With this latest performance, TRCH shares gained by 13.27% in over the last four-week period, additionally plugging by 877.10% over the last 6 months – not to mention a rise of 533.66% 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 TRCH stock in for the last two-week period is set at 52.49, with the RSI for the last a single of trading hit 51.17, and the three-weeks RSI is set at 53.93 for Torchlight Energy Resources Inc. [TRCH]. The present Moving Average for the last 50 days of trading for this stock 2.04, while it was recorded at 2.54 for the last single week of trading, and 0.77 for the last 200 days.

Torchlight Energy Resources Inc. [TRCH]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Torchlight Energy Resources Inc. [TRCH] shares currently have an operating margin of -987.84 and a Gross Margin at -549.17. Torchlight Energy Resources Inc.’s Net Margin is presently recorded at -1318.49.

Return on Total Capital for TRCH is now -19.98, given the latest momentum, and Return on Invested Capital for the company is -31.32. Return on Equity for this stock declined to -59.47, with Return on Assets sitting at -24.90. When it comes to the capital structure of this company, Torchlight Energy Resources Inc. [TRCH] has a Total Debt to Total Equity ratio set at 151.66. Additionally, TRCH Total Debt to Total Capital is recorded at 60.26, with Total Debt to Total Assets ending up at 55.83. Long-Term Debt to Equity for the company is recorded at 78.80, with the Long-Term Debt to Total Capital now at 31.31.

Reflecting on the efficiency of the workforce at the company, Torchlight Energy Resources Inc. [TRCH] managed to generate an average of -$4,919,698 per employee. Receivables Turnover for the company is 1.46 with a Total Asset Turnover recorded at a value of 0.02.Torchlight Energy Resources Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.

Earnings analysis for Torchlight Energy Resources Inc. [TRCH]

With the latest financial reports released by the company, Torchlight Energy Resources Inc. posted -0.02/share EPS, while the average EPS was predicted by analysts to be reported at -0.02/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TRCH.

Insider trade positions for Torchlight Energy Resources Inc. [TRCH]

There are presently around $18 million, or 5.00% of TRCH stock, in the hands of institutional investors. The top three institutional holders of TRCH stocks are: VANGUARD GROUP INC with ownership of 3,026,300, which is approximately 30.884% of the company’s market cap and around 8.30% of the total institutional ownership; AMG NATIONAL TRUST BANK, holding 1,399,855 shares of the stock with an approximate value of $3.58 million in TRCH stocks shares; and BLACKROCK INC., currently with $2.2 million in TRCH stock with ownership of nearly 0.718% of the company’s market capitalization.

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Positions in Torchlight Energy Resources Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 15 institutional holders increased their position in Torchlight Energy Resources Inc. [NASDAQ:TRCH] by around 1,004,631 shares. Additionally, 10 investors decreased positions by around 185,063 shares, while 13 investors held positions by with 5,901,555 shares. The mentioned changes placed institutional holdings at 7,091,249 shares, according to the latest SEC report filing. TRCH stock had 9 new institutional investments in for a total of 145,473 shares, while 5 institutional investors sold positions of 109,899 shares during the same period.

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