Insider Buying: Torchlight Energy Resources major shareholder Acquires 8,700 Shares of Stock (TRCH)
Torchlight Energy Resources (NASDAQ:TRCH) major shareholder Robert Kenneth Dulin purchased 8,700 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were purchased at an average price of $3.99 per share, with a total value of $34,713.00. Following the transaction, the insider now directly owns 75,560 shares in the company, valued at approximately $301,484. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Shares of Torchlight Energy Resources (NASDAQ:TRCH) traded up 0.98% during mid-day trading on Friday, hitting $4.1201. 22,558 shares of the company’s stock traded hands. Torchlight Energy Resources has a one year low of $1.80 and a one year high of $6.75. The stock has a 50-day moving average of $4.39 and a 200-day moving average of $4.69. The company’s market cap is $77.9 million.
Torchlight Energy Resources (NASDAQ:TRCH) last announced its earnings results on Thursday, May 15th. The company reported ($0.48) earnings per share for the quarter. On average, analysts predict that Torchlight Energy Resources will post $-0.18 earnings per share for the current fiscal year.
Torchlight Energy Resources, Inc, formerly Pole Perfect Studios, Inc, is engaged in the acquisition, exploration, development and producing of oil and gas properties.
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