In the last trading session, 36,235,726 shares of the Torchlight Energy Resources, Inc.(NASDAQ:TRCH) were traded, and its beta was 2.47. Most recently the company’s share price was $3.36, and it changed around $0.24 or 0.08% from the last close, which brings the market valuation of the company to $481.81 Million. TRCH currently trades at a discount to its 52-week high of $4.83, offering almost -43.75% off that amount. The share price’s 52-week low was $0.21, which indicates that the current value has risen by an impressive 93.75% since then. We note from Torchlight Energy Resources, Inc.’s average daily trading volume that its 10-day average is 92.82 Million shares, with the 3-month average coming to 21.9 Million.
Torchlight Energy Resources, Inc. stock received a consensus recommendation rating of Hold, based on a mean score of 3. If we narrow it down even further, the data shows that none out of 1 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 1 recommended TRCH as a Hold, whereas none deemed it a Buy, and no one rated it as Underweight. Torchlight Energy Resources, Inc. is expected to report earnings per share of $0 for the current quarter.
Torchlight Energy Resources, Inc. (NASDAQ:TRCH): Trading Information
Instantly TRCH has showed a green trend with a performance of 7.53% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $4.83- on Tuesday, Feb 16 increased the stock’s daily price by 30.54%. The company’s shares are currently up 3.79% year-to-date, but still up 0.1772 over the last five days. On the other hand, Torchlight Energy Resources, Inc. (NASDAQ:TRCH) is 1.03% up in the 30-day period. We can see from the shorts that 5.72 Million shares have been sold at a short interest cover period of 0.26 day(s).
The consensus price target as assigned by Wall Street analysts is $2.7, which translates to bears needing to reduce their stock price by -19.64% from its current value. Analyst projections state that TRCH is forecast to be at a low of $2.7 and a high of $2.7. In order for the stock price to hit the forecast high, the stock would need to surge -19.64% from its current level, while the stock would need to crash -19.64% from its current level to reach the projected low.
Torchlight Energy Resources, Inc. (TRCH) projections and forecasts
Consensus estimates provided by 0 financial analysts predict the company will bring in an average of $85Million in revenue for the current quarter. 0 analysts expect Torchlight Energy Resources, Inc. to make $45Million in revenue for the quarter ending in Apr 2021. The company’s sales for the same quarters a year ago were $311Million and $237Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -72.7%. Forecasts for the next quarter put sales growth at -81%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 33.1%. Torchlight Energy Resources, Inc. earnings are expected to decrease by -58.5% in 2021, but the outlook is negative 0% per year for the next five years.
Torchlight Energy Resources, Inc. (NASDAQ:TRCH)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 19.53% of Torchlight Energy Resources, Inc. shares, and 14.34% of them are in the hands of institutional investors. The stock currently has a share float of 17.81%. Torchlight Energy Resources, Inc. stock is held by 35 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Sep 29, 2020, it held 1.93% of the shares, which is about 2.31 Million shares worth $601.17 Thousand.
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AMG National Trust Bank, with 1.17% or 1.4 Million shares worth $979.9 Thousand as of Dec 30, 2020, holds the second largest percentage of outstanding shares.