Torchlight Energy Resources Inc. [NASDAQ: TRCH] price surged by 11.98 percent to reach at $0.23. The company report on May 8, 2021 that Torchlight Files Definitive Proxy Statement for Special Meeting of Stockholders for Metamaterial Transaction.
Torchlight Energy Resources, Inc. (NASDAQ:TRCH), an oil and gas exploration company (“Torchlight”), announced that it has filed a definitive proxy statement for its special meeting of the stockholders (the “Stockholder Meeting”) in connection with the previously announced business combination transaction with Metamaterial, Inc. Important dates relating to the Stockholder Meeting are as follows:
Record date of stockholders entitled to vote: May 5, 2021Meeting date: June 11, 2021 (meeting will be virtual)Preferred stock dividend record date: To Be Determined, based on expected close of the transaction.
A sum of 6887556 shares traded at recent session while its average daily volume was at 18.13M shares. Torchlight Energy Resources Inc. shares reached a high of $2.195 and dropped to a low of $1.925 until finishing in the latest session at $2.15.
Guru’s Opinion on 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 0.23, with the Price to Sales ratio for TRCH stock in the period of the last 12 months amounting to 1483.18. The Price to Book ratio for the last quarter was 5.00, with the Price to Cash per share for the same quarter was set at 0.10.
TRCH Stock Performance Analysis:
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 6.97. With this latest performance, TRCH shares gained by 53.57% in over the last four-week period, additionally plugging by 704.34% over the last 6 months – not to mention a rise of 400.00% 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 TRCH stock in for the last two-week period is set at 56.34, with the RSI for the last a single of trading hit 60.04, and the three-weeks RSI is set at 54.13 for Torchlight Energy Resources Inc. [TRCH]. The present Moving Average for the last 50 days of trading for this stock 1.98, while it was recorded at 1.94 for the last single week of trading, and 1.11 for the last 200 days.
Insight into Torchlight Energy Resources Inc. 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 -2245.46 and a Gross Margin at -421.73. Torchlight Energy Resources Inc.’s Net Margin is presently recorded at -6609.76.
Return on Total Capital for TRCH is now -12.94, given the latest momentum, and Return on Invested Capital for the company is -45.54. Return on Equity for this stock declined to -92.26, with Return on Assets sitting at -34.87. 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 130.91. Additionally, TRCH Total Debt to Total Capital is recorded at 56.69, with Total Debt to Total Assets ending up at 51.09. Long-Term Debt to Equity for the company is recorded at 130.91, with the Long-Term Debt to Total Capital now at 56.69.
Reflecting on the efficiency of the workforce at the company, Torchlight Energy Resources Inc. [TRCH] managed to generate an average of -$3,195,474 per employee. Receivables Turnover for the company is 0.48 with a Total Asset Turnover recorded at a value of 0.01.
Torchlight Energy Resources Inc. [TRCH] Insider Position Details
There are presently around $26 million, or 4.40% of TRCH stock, in the hands of institutional investors. The top three institutional holders of TRCH stocks are: VANGUARD GROUP INC with ownership of 5,191,248, which is approximately 71.538% of the company’s market cap and around 8.20% of the total institutional ownership; GMT CAPITAL CORP, holding 1,087,600 shares of the stock with an approximate value of $2.34 million in TRCH stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $2.06 million in TRCH stock with ownership of nearly 139.007% of the company’s market capitalization.
Positions in Torchlight Energy Resources Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 39 institutional holders increased their position in Torchlight Energy Resources Inc. [NASDAQ:TRCH] by around 6,485,667 shares. Additionally, 13 investors decreased positions by around 1,651,282 shares, while 6 investors held positions by with 3,774,185 shares. The mentioned changes placed institutional holdings at 11,911,134 shares, according to the latest SEC report filing. TRCH stock had 25 new institutional investments in for a total of 3,021,036 shares, while 7 institutional investors sold positions of 313,033 shares during the same period.