Torchlight Energy Resources (TRCH) Reaches New 12-Month Low at $0.72

Torchlight Energy Resources Inc (NASDAQ:TRCH)’s share price hit a new 52-week low on Friday . The company traded as low as $0.72 and last traded at $0.74, with a volume of 199629 shares traded. The stock had previously closed at $0.82.

Separately, Noble Financial assumed coverage on Torchlight Energy Resources in a research report on Wednesday, October 24th. They set an “outperform” rating on the stock.

The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.72.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. ING Groep NV acquired a new position in shares of Torchlight Energy Resources in the second quarter valued at approximately $136,000. BlackRock Inc. grew its position in shares of Torchlight Energy Resources by 12.8% in the second quarter. BlackRock Inc. now owns 370,505 shares of the oil and gas company’s stock valued at $504,000 after purchasing an additional 41,904 shares during the last quarter. Finally, Usca Ria LLC acquired a new position in shares of Torchlight Energy Resources in the second quarter valued at approximately $517,000. 8.51% of the stock is currently owned by hedge funds and other institutional investors.

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Torchlight Energy Resources Company Profile (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, 2017 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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