Roth Capital lowered shares of Torchlight Energy Resources (NASDAQ:TRCH) from a buy rating to a neutral rating in a research note published on Friday, Briefing.com Automated Import reports.
Several other equities analysts have also recently weighed in on TRCH. Zacks Investment Research cut Torchlight Energy Resources from a buy rating to a hold rating in a report on Wednesday, March 11th. ValuEngine cut Torchlight Energy Resources from a hold rating to a sell rating in a report on Tuesday, January 7th.
NASDAQ:TRCH opened at $0.40 on Friday. Torchlight Energy Resources has a fifty-two week low of $0.31 and a fifty-two week high of $1.96. 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 business’s 50-day simple moving average is $0.61 and its 200-day simple moving average is $0.83.
An institutional investor recently raised its position in Torchlight Energy Resources stock. Bank of New York Mellon Corp boosted its position in Torchlight Energy Resources Inc (NASDAQ:TRCH) by 6,171.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 747,099 shares of the oil and gas company’s stock after buying an additional 735,186 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.96% of Torchlight Energy Resources worth $568,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 8.07% of the company’s stock.
Torchlight Energy Resources Company Profile
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.
