ROTH Capital slashes price target on Torchlight Energy Resources Inc. [TRCH] – find out why.

Torchlight Energy Resources Inc. [NASDAQ: TRCH] loss -29.71% on the last trading session, reaching $4.92 price per share at the time. The company report on June 21, 2021 that Torchlight Provides Update on Proposed Business Combination Timing and Payment Date for Preferred Stock Dividend.

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Torchlight Energy Resources, Inc. (NASDAQ:TRCH), an oil and gas exploration company (‘Torchlight’), announced that Torchlight and Metamaterial Inc. (‘Metamaterial’) have agreed to extend the outside date by which Torchlight and Metamaterial must close their business combination transaction (the “Arrangement”) to June 30, 2021. The extension provides time for the June 24, 2021 record date and the June 25th payment date of the special Series A Preferred Stock dividend, declared on June 14, 2021, to transpire.

The payment date for the Series A Preferred Stock dividend will be June 25th. The Company expects to close the Arrangement no later than June 30th, 2021.

Torchlight Energy Resources Inc. represents 129.61 million in outstanding shares, while the company has a total market value of $615.69 million with the latest information. TRCH stock price has been found in the range of $4.63 to $5.94.

If compared to the average trading volume of 25.39M shares, TRCH reached a trading volume of 135714164 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 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 1.15, with the Price to Sales ratio for TRCH stock in the period of the last 12 months amounting to 6156.89. The Price to Book ratio for the last quarter was 11.44, with the Price to Cash per share for the same quarter was set at 0.11.

Trading performance analysis for TRCH stock

Torchlight Energy Resources Inc. [TRCH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.86. With this latest performance, TRCH shares gained by 112.99% in over the last four-week period, additionally plugging by 805.58% over the last 6 months – not to mention a rise of 1100.59% 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 53.48, with the RSI for the last a single of trading hit 50.36, and the three-weeks RSI is set at 55.11 for Torchlight Energy Resources Inc. [TRCH]. The present Moving Average for the last 50 days of trading for this stock 2.81, while it was recorded at 6.70 for the last single week of trading, and 1.55 for the last 200 days.

Torchlight Energy Resources Inc. [TRCH]: A deeper dive into fundamental analysis

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.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 34.10 and a Current Ratio set at 34.10.

An analysis of insider ownership at Torchlight Energy Resources Inc. [TRCH]

There are presently around $59 million, or 8.30% 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 $5.35 million in TRCH stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $4.71 million in TRCH stock with ownership of nearly 139.007% 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 May and at the time of the May reporting period, where 40 institutional holders increased their position in Torchlight Energy Resources Inc. [NASDAQ:TRCH] by around 6,651,307 shares. Additionally, 12 investors decreased positions by around 1,650,282 shares, while 7 investors held positions by with 3,785,185 shares. The mentioned changes placed institutional holdings at 12,086,774 shares, according to the latest SEC report filing. TRCH stock had 26 new institutional investments in for a total of 3,186,676 shares, while 6 institutional investors sold positions of 312,033 shares during the same period.

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