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will be mailed to stockholders of Torchlight as of a record date to be established. InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, including previous stints with Bloomberg News and as a buyside equity research editor. The remainder will be used for general corporate purposes including working capital and merger related costs. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article. The company’s main focus has historically been on the acquisition and development of highly profitable domestic oil fields, with interests in Texas, including the Permian Basin and the Eagle Ford Shale. They are composite structures, consisting of conventional materials such as metals and plastics, that are engineered by scientists to exhibit new or enhanced properties.įor TRCH stock investors, the new focus adds an unfamiliar dimension to what had been an oil and gas exploration and production company based out of Plano, Texas, with a total of four full-time employees. Metamaterials are a subset of functional materials, according to the company. “We are very excited to showcase how metamaterials ‘go beyond’ conventional materials and chemistry, to offer new and highly sustainable solutions with semiconductor precision, at kilometer scale.” “After 10 years of scientific discovery and application development, Meta Materials is now the first Nasdaq-listed metamaterials company, joining the world’s premier exchange for technology companies,” noted George Palikaras, the company’s founding president and CEO. These are the factors to consider while you plan to invest in Torchlight Energy Resources Inc.MMAT Stock Is First of Its Type on Nasdaq However, even, then the amount is $-2.06 million. When it comes to the net income, it shows a 44.35% increase from the previous quarter. Here, the revenue of the company has decreased by 97.08%. It means that not many would consider cash payĪnother aspect for analyzing while we look into Torchlight Energy Resources Inc is its Finance and Operational Report for the first quarter of 2021. The research shows that investors would find ownership of oil and gas assets as a preferable option. They provided $ 0.8 million in the first quarter of 2021. Thomas E Claugus had provided $ 2 million at the end of the first quarter.Īnother investment procured by the company is from Citadel Investment group run by Ken Grittin. When we look at the investors of Torchlight Energy Resources Inc, Thomas E Claugus of GMT Capital had invested in the company. Previously, when we consider the reports from Mach, the company had four hedge fund portfolios with it. Besides that, the long hedge funds became three. It continued to decrease as the day proceeded.Ĭurrently, permanent investors are focusing on the stocks by Torchlight Energy Resources Inc. But, it decreased tremendously as of June 17, 2021. When Torchlight Energy Resources Inc announced the merger, there was an increase in its share price. The reason behind this is that they are expecting a cash payout which is $1. When we look at Torchlight Energy Resources Inc, the payout for its oil and gas sector is disappointing for the investors. Through this, they can focus on expanding and, at the same time, supporting its operations. The company is striving forward to raise as many funds as it can. The future of Metamaterial depends upon the investors and their interest to do business with them. (" Metamaterial" ) have agreed to extend the date by which Torchlight must give notice of and call its special meeting of stockholders (the " Stockholder Meeting" ) in connection with the. (NASDAQ:TRCH), an oil and gas exploration company ('Torchlight'), today announced that Torchlight and Metamaterial Inc. Torchlight Energy Resources Inc to merge with MetamaterialĪs of now, Torchlight Energy Resources Inc is approaching its merger dates with Metamaterial. PLANO, TX / ACCESSWIRE / / Torchlight Energy Resources, Inc. When it comes to the number of stocks sold in the last 30 days, it is 23.22 million.
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When we look at the highest price, it is $ 16.76.Īnother factor to consider is Torchlight Energy Resources Inc’s market cap, which is $ 911.04million. When we consider the lowest share price in the last 52 weeks, it is $0,21. It shows a 16.11% increase from the previous close, which was at $5.40. Torchlight Energy Resources Inc was at $ 6.27 when the market closed on June 19, 2021. Their primary focus is on acquiring and developing highly profitable oil fields. It is an exploration and production enterprise. Based in Texas, Torchlight Energy Resources Inc (NASDAQ: TRCH) is a company that focuses on high growth oil and gas.