Natural Gas Services Group Inc. (NYSE:NGS) is moving in range after announcing financial results for the quarter and six months ending June 30, 2021. Rental revenue was $15.6 million, a 2% when compared to Q1 2021 and 3% YoY. In Q2 2021, the company has a net loss of $1.9 million or $0.14 loss per dilute and basic share a $1.5 million reduction relative to Q1 2021 and $2.1 million in Q2 2020. Adjusted EBITDA was $4.5 million.
CEO Stephen Taylor said that Q2 was an important inflection point for the company. Taylor said that as the company continues monitoring the COVID-19 pandemic’s impact, high energy price and enhanced production activity accelerated rental compression deployment.
As a result, the company set 80 new compressor packages that include a record number of units, offering rental revenue with robust margins. Taylor added that increased activity offers a clear path to enhanced revenue and profitability for the company. As a result, NGS is worth watching in the coming weeks.
Allied Energy Corp. (OTCMKTS:AGYP) is emerging as an important independent oil company that is now pumping oil from former commercialized well sites. For oil and gas investors, AGYP’s performance and stock deserves a view as a rare domestic energy producer in a global world of oil and gas shortages.
Market Reaction:
On Wednesday, NGS stock gained 0.63% at $9.56 with more than 33K shares, compared to its average volume of 26K shares. The stock has moved within a range of $9.50 – 9.83 after opening the trade at $9.72
