Torchlight Energy Resources, Inc. (NASDAQ:TRCH) Director Alexandre Zyngier sold 600,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 22nd. The shares were sold at an average price of $7.00, for a total value of $4,200,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Torchlight Energy Resources stock opened at $4.92 on Thursday. Torchlight Energy Resources, Inc. has a 12 month low of $0.21 and a 12 month high of $10.88. The stock has a fifty day simple moving average of $2.82. The firm has a market capitalization of $714.89 million, a P/E ratio of -24.60 and a beta of 2.02.
Hedge funds and other institutional investors have recently bought and sold shares of the business. United Asset Strategies Inc. bought a new stake in shares of Torchlight Energy Resources during the first quarter valued at approximately $31,000. Royal Bank of Canada acquired a new position in Torchlight Energy Resources during the 1st quarter worth $36,000. HighTower Advisors LLC acquired a new position in shares of Torchlight Energy Resources during the first quarter valued at $37,000. Howe & Rusling Inc. lifted its holdings in Torchlight Energy Resources by 105.4% in the first quarter. Howe & Rusling Inc. now owns 20,540 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 10,540 shares during the period. Finally, Ground Swell Capital LLC acquired a new stake in Torchlight Energy Resources in the first quarter worth about $38,000. Hedge funds and other institutional investors own 8.31% of the company’s stock.
About Torchlight Energy Resources
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, 2020, it had interests in three oil and gas projects, including the Orogrande project in Hudspeth County, Texas; the Hazel project in Sterling, Tom Green, and Irion Counties, Texas; and the Hunton wells in partnership with Kodiak Ventures in central Oklahoma.
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