On Wednesday, the Houston Natural Resources Corp (OTCMKTS:HNRC) stock was in the middle of a strong recovery and ended up with gains of as much as 8% for the day after a difficult few days. That being said, at the same time, it is also necessary to remember that the over the past week, the stock is still down by 13%.
Trading Data
On Wednesday, HNRC stock ended higher by 8.40% to $0.65 with 14k shares, compared to its average volume of 19k shares. The stock has moved within a range of $0.6050 – 0.6500 after opening trade at $0.61.
Strong Fourth Quarter Earnings Expected Projected To Continue In 2022
Yesterday investors seemed to be excited about the Houston Natural Resources stock after the company announced that it believes that it wold be reporting strong financial results for the quarter that ends on December 31, 2021. More importantly, the company added that it expected to continue strongly into next year as well.
Yesterday the company announced its projections of revenues to the tune of as much as $21 million and profits of $8 million for 2021. The earnings of $8 million will work out to earnings per share of $0.43.
For 2022, Houston Natural Resources projected revenues of $23 million and earnings of $10 million. The earnings per share in that situation would rise to $0.50 a share. It is now going to be interesting to see if the Houston Natural Resources stock continues to attract investors today.
Technical Data
HNRC stock is trading below the 20-Day and 50-Day Moving averages of $0.8709 and $0.8070 respectively. Moreover, the stock is below 200-Day moving average of $1.64. The stock is down 43% in the past month.
