Torchlight Energy Resources Inc. [TRCH] is 607.14% higher this YTD. Is it still time to buy?

Torchlight Energy Resources Inc. [NASDAQ: TRCH] surged by $0.2 during the normal trading session on Friday and reaching a high of $10.76 during the day while it closed the day at $4.95. The company report on June 26, 2021 that Torchlight Announces Payment of a Special Series a Preferred Stock Dividend, a 1:2 Reverse Stock Split and Planned Closing of the Arrangement Agreement With Metamaterial, Inc.

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Torchlight Energy Resources, Inc. (NASDAQ:TRCH), an oil and gas exploration company (‘Torchlight’), 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 announced that it implemented a 1 for 2 reverse stock split of its Common Stock. The reverse split, which will become effective after market closing on June 25, 2021, was approved by the stockholders of Torchlight at its Special Shareholder meeting held on June 11, 2021. The 1 for 2 ratio represents the lowest amount Torchlight may implement under the 1-20 range that was previously approved by the stockholders.

Torchlight also announced that the steps necessary to close the business combination with Metamaterial Inc. were completed on June 25, 2021 and therefore Torchlight expects that the business combination will be effective on June 28, 2021 as of 12:01 AM EDT. Commencing on June 28, 2021 Torchlight’s name will be changed to “Meta Materials Inc.” and its common stock will begin trading on NASDAQ under the ticker symbol “MMAT.”.

Torchlight Energy Resources Inc. stock has also loss -21.05% of its value over the past 7 days. However, TRCH stock has inclined by 167.57% in the 3 months of the year. Over the past six months meanwhile, it has gained 686.46% and gained 607.14% year-on date.

The market cap for TRCH stock reached $753.98 million, with 129.61 million shares outstanding and 121.43 million shares in the current float. Compared to the average trading volume of 30.78M shares, TRCH reached a trading volume of 110647448 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 1.10, with the Price to Sales ratio for TRCH stock in the period of the last 12 months amounting to 7539.84. The Price to Book ratio for the last quarter was 11.51, with the Price to Cash per share for the same quarter was set at 0.09.

TRCH stock trade performance evaluation

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 -21.05. With this latest performance, TRCH shares gained by 110.64% in over the last four-week period, additionally plugging by 686.46% over the last 6 months – not to mention a rise of 1212.30% 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 53.56, with the RSI for the last a single of trading hit 50.63, 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 2.94, while it was recorded at 6.31 for the last single week of trading, and 1.60 for the last 200 days.

Torchlight Energy Resources Inc. [TRCH]: An insightful look at the core 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.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 34.10 and a Current Ratio set at 34.10.

Torchlight Energy Resources Inc. [TRCH]: Insider Ownership positions

There are presently around $60 million, or 7.70% 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 7.80% of the total institutional ownership; GMT CAPITAL CORP, holding 1,087,600 shares of the stock with an approximate value of $5.38 million in TRCH stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $4.74 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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