It has been a pretty tough week for shareholders in the diversified energy firm American Energy Partners Inc (OTCMKTS:AEPT) and during the course of the period, it has tanked by as much as 10%.
Trading Data
On Monday, AEPT stock fell 2.60% to $0.0755 with more than 67k shares, compared to its average volume of 24K shares. The stock has moved within a range of $0.0721 – 0.0799 after opening trade at $0.0799.
American Energy Completes the Acquisition of Apex Energy Service, LLC
Yesterday, the company was actually in the news and it may be a good time for investors to look into the announcement from American Energy Partners yesterday. The company announced that it had been successful in completing the acquisition of the energy services firm Apex Energy Service LLC. It should be noted that the company had actually made an announcement with regards to this acquisition previously.
It was also announced that the acquisition of the Pennsylvania based energy services company by American Energy Partners had gone into effect back on January 1, 2022. It goes without saying that the acquisition is an important one for American Energy Partners but it seems that the investors were not particularly thrilled with the news.
It is now going to be interesting to see if the American Energy Partners stock can make a swift recovery today or not. In the meantime, it may be a good idea for investors to keep track of the stock.
Key Quote
Albert Bove Jr., who will remain President of Apex, commented on the deal, “I could not have envisioned a better scenario for not only the founders of Apex but for Apex as a whole. American Energy brings an entire suite of know-how and I couldn’t be happier to be a part of their growing family.”
Technical Data
AEPT stock is below the 20-Day and 50-Day Moving averages of $0.0886 and $0.1197 respectively. Moreover, the stock is below the 200-Day moving average of $0.1747.
