On Monday, the Houston Natural Resources Corp (OTCMKTS:HNRC) stock came into focus in a big way among investors after it announced that it expected its financial results for the first fiscal quarter ended on March 31, 2021 to be strong.
Trading Data
On Monday, HNRC stock fell 3.16% to $0.46 with more than 28k shares, compared to its average Monday of 56K shares. The stock moved within a range of $0.4101 – 0.5000 after opening trade at $0.48.
Quick Recap
Such an announcement from a company can often come as a bullish trigger for the stock and hence, it could be the right time to take a closer look. Houston Natural Resources projected that in the fiscal year ended on December 31, 2021 it was going to clock revenues to the tune of $20 million and EBITDA of $10 million.
On the other hand, the Houston Natural Resources projected that it was expecting revenues to touch $5 million in the first quarter. In addition to that, the EBITDA earnings in the first quarter were also projected to be $2.5 million. Over the course of the past three years, Houston Natural Resources has been able to boost its revenues consistently and hence, this projection is an important one. The steady rise in revenue has primarily taken place due to the rise in revenues from the companies it holds in its portfolio and also through fresh acquisitions.
Technical Data
HNRC stock is trading below the 20-Day and 50-Day Moving averages of $0.50 and $0.40 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.04.
