Is Torchlight a good stock to buy?
Is Torchlight Energy Resources stock A Buy? Torchlight Energy Resources holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Mar 15, 2022
What happens to my torchlight stock?
Transition in Torchlight Energy Resources Brings a Goodbye and a Good Buy. June 28 was a significant day for anyone invested in Torchlight Energy Resources (NASDAQ:TRCH). That's the day the company merged with Metamaterials to form Meta Materials (NASDAQ:MMAT). And as a result, TRCH stock was replaced by MMAT stock.Jul 26, 2021
What is the torch light stock?
During the day the stock fluctuated 0% from a day low at $2.08 to a day high of $2.08....Stock Peers.TickerPriceChangeMTRX$7.08-5.47TH$5.25-5.7510 more rows•Mar 15, 2022
What happens to Torchlight stock after merger?
Meta Materials shareholders are expected to own 75% of the combined company, while Torchlight shareholders get 25%. Torchlight CEO John Brda will remain with the new business combination while its oil & gas assets are disposed of.Jul 14, 2021
Did Torchlight pay dividend?
PLANO, TX / ACCESSWIRE / June 25, 2021 / Torchlight Energy Resources, Inc. (NASDAQ:TRCH), an oil and gas exploration company ('Torchlight'), today announced that it paid the special Series A Preferred Stock dividend on a 1 for 1 basis to its stockholders of record on June 24, 2021.Jun 25, 2021
What is Torchlight Energy worth?
$0.78 BillionAs of April 2022 Torchlight Energy Resources has a market cap of $0.78 Billion. This makes Torchlight Energy Resources the world's 4550th most valuable company by market cap according to our data.
How many shares of Torchlight are there?
15.4 million sharesAccording to the latest data from S&P Global Market Intelligence, there are in fact only 15.4 million shares of stock sold short on Torchlight at present.Jun 16, 2021
How do I buy Torchlight Energy stock?
How to buy shares in Torchlight Energy ResourcesCompare share trading platforms. Use our comparison table to help you find a platform that fits you.Open your brokerage account. ... Confirm your payment details. ... Research the stock. ... Purchase now or later. ... Check in on your investment.Aug 22, 2021
Why is torchlight stock going up?
Shares of Torchlight Energy Resources ( TRCH ) soared 58% on Monday after the oil and gas driller extended the closing date of its merger with advanced materials manufacturer Metamaterial.Jun 21, 2021
Is Meta materials a good stock to buy?
Meta Materials Inc (MMAT) is near the top in its industry group according to InvestorsObserver. MMAT gets an overall rating of 56. That means it scores higher than 56 percent of stocks. Meta Materials Inc gets a 73 rank in the Electronic Components industry.Jan 10, 2022
How much was the special dividend from Torchlight?
The value of the special dividend is estimated at $0.45 million for the Winkler Project sale plus $12.4 million for the Hazel Project sale if that goes through.Mar 10, 2021
What's going on with Meta materials?
Meta Materials ended up with $155 million in cash at the end of Q2 2021, after its reverse takeover of Torchlight Energy. Its cash position in early October may be around $69 million after $14 million in cash burn during Q3 2021 and its $72 million acquisition of Nanotech Security.Nov 21, 2021
Torchlight merger with Metamaterial (MMAT)
Initially, Torchlight’s planned merger with Metamaterial was announced in September 2020. Part of Torchlight’s goal in the merger was stated as “targeting proven disruptive technology companies with strong environmental, social and governance (ESG) priorities,” according to John Brda, the chief executive of Torchlight.
What is Torchlight Energy Resources?
Torchlight is an oil and gas exploration and production company based in Plano, Tex. It focuses on the acquisition and development of domestic oil fields.
TRCH meme stock
Recently, TRCH stock caught the attention of Reddit traders looking for a potential short squeeze target. Torchlight Energy Resources became somewhat of a meme stock as retail investors hyped up the stock before its merger was completed.
Can I buy Torchlight Energy Resources stock?
Now that Torchlight has effectively merged with Metamaterial, investors can buy shares of the combined company under the symbol "MMAT" on the Nasdaq. The new stock debuted on the Nasdaq on June 28.
Why Torchlight stock is rising
Torchlight Energy stock rose by 20.3 percent on March 11 and is marching higher in pre-market trading on March 12. While there are several reasons behind the stock’s recent surge, the one very potent catalyst remains the upcoming closure of the Torchlight-Metamaterial merger.
Torchlight stock news
Lately, the outlook for non-renewable energy stocks hasn't been great. The shift in investor and consumer sentiment has caused many companies to relook their business strategies. The Biden administration’s green and clean energy-friendly stance has added fuel to the fire. The changing market sentiment has also led Torchlight to make the transition.
TRCH stock forecast
According to Market Beat, TRCH stock is covered by just one Wall Street analyst with a hold rating. However, the rating from the analyst is one year old and doesn't take the latest developments into account. It doesn't make sense to rely on the rating for TRCH’s outlook.
Torchlight Energy goes debt-free
Torchlight Energy used to carry a lot of debt, like many other energy companies. However, since the definitive agreement with Metamaterial, the company has eliminated all of its debt. The company converted all of its debt into Torchlight common stock. This will also clear the blanket liens on two of its projects that were securing the debt. On Feb.
Is TRCH a good stock to buy?
TRCH’s merger with Metamaterial is a strong positive catalyst for the stock. A lot of the upside has already been priced into the stock. Since the announcement of the business combination in December, TRCH stock is up 385 percent.
