Torchlight Energy Resources, In (NASDAQ:TRCH) Closed 9.9% Above Its 50 Day Moving Average


Company shares last traded at $1.33 a tad above $1.21, the stock’s 50 day moving average and a bit lower than the 200 day moving average of $1.38. The 50 day moving average went up $0.12 or +9.87% and the 200 day average moved down $-0.05. Trading was light with 96K shares changing hands on Wednesday. Volume was down 49.15% under the stocks average daily volume.

Investors are feeling more bearish on shares of the company recently if you take a look at the change in short interest. The company saw a rise in short interest of 7.13% between August 15, 2017 and August 31, 2017. Short interest increased from 2,692,577 to 2,884,623 over that timeframe. The days to cover decreased to 8.0 and the percentage of shorted shares was 0.05% on August 31.

These firms have modified their investment in TRCH. As of the end of the quarter Raymond James Financial Services Advisors, Inc. had bought a total of 277,388 shares growing its stake by 55.2%. The value in dollars increased from $703,000 to $1,294,000 increasing 84.1% quarter over quarter. Amg National Trust Bank reduced its ownership by shedding 100,000 shares a decrease of 7.1% as of 06/30/2017. Amg National Trust Bank now controls 1,317,152 shares worth $2,186,000. The value of the position overall is up by 10.2%.

Bank Of NEW York Mellon Corp cut its investment by selling 2,126 shares a decrease of 21.3%. Bank Of NEW York Mellon Corp currently owns 7,874 shares valued at $13,000. The total value of its holdings decreased 7.1%. As of quarter end Blackrock Inc. had disposed of 15,099 shares trimming its position 67.2%. The value of the company’s investment in Torchlight Energy Resources, In went from $31,000 to $12,000 a change of 61.3% quarter to quarter.

Torchlight Energy Resources, Inc. (Torchlight), launched on October 30, 2007, is involved in the acquisition, exploration, exploitation, and/or development of oil and natural gas properties in the United States. The Company focuses on drilling and working interest programs within the United States. The Company has interests in approximately four oil and gas projects: the Marcelina Creek Field Development in Wilson County, Texas; the Ring Energy Joint Venture in Southwest Kansas; Hunton wells in partnership with Husky Ventures in Central Oklahoma, and the Orogrande Project in Hudspeth County, Texas. The Company also operates through two other subsidiaries, including Torchlight Energy Operating, LLC, a Texas limited liability company, and Hudspeth Oil Corporation, a Texas corporation..