It was a tough week in the stock markets last week and most sectors ended up in the red. However, the energy sector remained the exception and in light of that, it could now be a good idea for investors to perhaps take a look at five energy stocks.
Houston Natural Resources Corp (OTCMKTS:HNRC) – The first energy stock that investors could look into this morning is that of Houston Natural Resources Corp, which clocked gains of as much as 10% last week. It was one of the notable movers in the sector.
As it happens, the company also provided an update back on May 6 and it may be a good move to consider taking a look into it. The company came up with an update with regards to its acquisition of Cunningham Energy LLC on Friday.
Houston Natural Resources Corp announced that it was engaged with the due diligence process regarding the transaction. To that end, it also employed the services of banks as well as accounting firms. The company is looking to invest $100 million in cash and securities and it is believed that the transaction is going to close at some point before June 30.
Susglobal Energy Corp (OTCMKTS:SNRG) was in bullish action on Friday as the stock soared over 9%. Last Month, the company announced its financial results for the fourth fiscal quarter and the full fiscal year, both of which ended on December 31, 2021.
In addition to that, the company also provided updates with regards to some of the operational progress that it had managed to make. One of the updates was with regards to the purchase of a property spanning 40,535 square feet in Hamilton, Canada. The purchase in question was made by the company through SusGlobal Energy Canada I Ltd, its fully owned subsidiary unit.
However, it was the financial performance that most investors are interested in and it may be a good idea to take a closer look at it. In the fourth quarter of 2021, the company managed to bring in revenues of only $144,246. It proved to be a massive year-on-year drop of as much as 66.63% from the revenues of $432,263 that it had generated in the prior-year quarter.
Mass Megawatts Windpower Inc (OTCMKTS:MMMW) closed in the green on Friday and outperformed the broader market. While it is true that there was no specific news about the company, it may be a good time for investors to note that earlier on in the month the company had hit a major milestone by submitting a filing for a registration statement on Form 10 to the United States Securities and Exchange Commission.
By way of this particular submission, the company wishes to list its stock as per the provisions of the Securities Exchange Act of 1934. It now remains to be seen if the stock can hold on to its momentum and add to its gains today.
Principal Solar, Inc. (OTCMKTS:PSWW) – The company is best known for being a strategic investor in businesses that are involved in the renewable energy sectors as well as in traditional energy sectors like oil and natural gas.
Last week on March 17, the company’s Chief Executive Officer Bryan Toussaint provided a key corporate update. He announced that the company was going to have a special meeting of the board later on in the month in which a large number of topics, including strategic initiatives, are going to be discussed. The meeting in question is going to be hosted in the city of Enid in Oklahoma later on in the month.
Gaensel Energy Group (OTCMKTS:GEGR) – There has been no news about Gaensel Energy Group in recent times but it might be a good idea for investors to consider taking a look at the update provided by the diversified holding company back on April 20. The company announced at the time that it had successfully picked up a major stake in Italy-based marketing, editorial, and media firm Gate s.r.l, Milano.
The company is known for having considerable assets in the media and magazine industry. Gaensel is going to be responsible for operating GATE, the airline magazine and will also be in charge of the mobile application for the same.
