Torchlight Energy Resources, Inc. (NASDAQ:TRCH) traded at $0.36 at last check on Monday, Jun 29, making an upward move of 3.6% on its previous day’s price.
Looking at the stock we see that its previous close was $0.35 and the beta (5Y monthly) reads 1.9 with the day’s price range being $0.3335 – 0.3750. In terms of its 52-week price range, TRCH has a high of $1.86 and a low of $0.28. The company’s stock has gained about 3.01% over that past 30 days.
On the other hand, looking at the outlook for the TRCH stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 100% Sell.
Looking further, we note that the PEG ratio for the TRCH stock currently stands at 0, and the current price level is -8.13% off its SMA20 and -7.79% from its 50-day simple moving average. The RSI (14) is pointing at 45.81 while the volatility over the past week is 11.25% and drops to 11.15% over the past one month. The beta value is 1.9, while the average true range (ATR) is currently pointing at 0.04. The average price target for the stock over the next 12 months is $2.7, with the estimates having a low of $2.7 and a high of $2.7. These price ends are 650% and +650% off the current price level respectively, although investors could be excited at the prospect of a +650% if the TRCH share price touches on the median price of $2.7.
Let’s briefly compare Torchlight (TRCH) stock to its peers. We find that today’s price change of +3.6% and -74.46% over the past 12 months for TRCH competes that of Eog Resources (EOG), which has seen its stock price rise 1.83% in the latest trading session and is -46.7% over the last one year. Another of its peers Pioneer Natural Resources Company (PXD) has climbed 0.35% today, but is -38.62% down over the past year, while Cheniere Energy (LNG) is also up 3.6% yet its price remains in the red at -74.46% over the same period. Eog has a P/E ratio of 13.66 compared to Torchlight’s 0 and Pioneer’s 22.5. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at 2.32% and 1.47%, respectively, in early deals.
Coming back to Torchlight Energy Resources, Inc. (NASDAQ:TRCH), we note that the average 3-month trading volume was 609.08 Million, while that of the preceding 10-day period stands at 836.78 Million. Current shares outstanding are 94.21 Million.
According to data from Thomson Reuters, insiders hold 25.45% of the company’s shares while institutions hold 7.93%. The data shows that short shares as of June 14, 2020, stood at 5.23 Million at a short ratio of 4.98. This represents a 6.06% Short interest in Shares outstanding on June 14, 2020. Shares short dropped in June from the previous month at 5.64 Million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -52.3% down in year-to-date price movement.