Torchlight Energy Resources Inc (NASDAQ:TRCH) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.13 and traded as low as $0.68. Torchlight Energy Resources shares last traded at $0.68, with a volume of 1,585 shares.
Several brokerages have recently commented on TRCH. ValuEngine upgraded Torchlight Energy Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 10th. Zacks Investment Research downgraded Torchlight Energy Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th.
The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.03. The company’s fifty day moving average is $0.80 and its 200 day moving average is $1.12.
A number of institutional investors have recently bought and sold shares of the business. Prime Capital Investment Advisors LLC lifted its stake in Torchlight Energy Resources by 13.1% in the second quarter. Prime Capital Investment Advisors LLC now owns 101,760 shares of the oil and gas company’s stock worth $144,000 after purchasing an additional 11,760 shares during the last quarter. Morgan Stanley grew its position in Torchlight Energy Resources by 45.6% during the 2nd quarter. Morgan Stanley now owns 164,823 shares of the oil and gas company’s stock worth $234,000 after acquiring an additional 51,636 shares during the last quarter. Vanguard Group Inc. increased its stake in Torchlight Energy Resources by 29.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,942,710 shares of the oil and gas company’s stock worth $2,759,000 after purchasing an additional 441,633 shares during the period. Finally, BlackRock Inc. increased its stake in Torchlight Energy Resources by 154.8% in the 2nd quarter. BlackRock Inc. now owns 977,130 shares of the oil and gas company’s stock worth $1,388,000 after purchasing an additional 593,701 shares during the period. 8.53% of the stock is owned by institutional investors and hedge funds.
About Torchlight Energy Resources (NASDAQ:TRCH)
Torchlight Energy Resources, Inc, through its subsidiaries, engages in the acquisition, exploration, exploitation, and/or development of oil and natural gas properties in the United States. As of December 31, 2018, it had interests in four oil and gas projects, including the Orogrande project in Hudspeth County, Texas; Hazel project in Sterling, Tom Green, and Irion Counties, Texas; Winkler project in Winkler County, Texas; and Hunton wells in partnership with Husky Ventures in central Oklahoma.
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