Torchlight Energy Resources (TRCH) : Traders are bullish on Torchlight Energy Resources (TRCH) as it has outperformed the S&P 500 by a wide margin of 48.47% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 34.93%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 35% in the last 1 week, and is up 50% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 33.15% and the 50-Day Moving Average is 73.29%. Torchlight Energy Resources (NASDAQ:TRCH): stock turned positive on Friday. Though the stock opened at $1.33, the bulls momentum made the stock top out at $1.64 level for the day. The stock recorded a low of $1.33 and closed the trading day at $1.62, in the green by 20.90%. The total traded volume for the day was 932,867. The stock had closed at $1.34 in the previous days trading.
The company Insiders own 18.29% of Torchlight Energy Resources shares according to the proxy statements. Institutional Investors own 7.04% of Torchlight Energy Resources shares.
Torchlight Energy Resources, Inc. (Torchlight) is engaged in the acquisition, exploration, exploitation, and/or development of oil and natural gas properties in the United States. The Company focuses on drilling and working interest programs within the United States. The Company has interests in six oil and gas projects and one commercial Salt Water Disposal facility. Its projects include the Marcelina Creek Field Development in Wilson County, Texas, the Coulter Field in Waller County, Texas, the Smokey Hills Prospect in McPherson County, Kansas, the Ring Energy Joint Venture in Southwest Kansas, the Hunton play in partnership with Husky Ventures in Central Oklahoma and the Orogrande Project in Hudspeth County, Texas. The Companys subsidiaries include Torchlight Energy, Inc. and Torchlight Energy Operating, LLC.