Last Friday, it was the time for the Camber Energy (NYSEAMERICAN:CEI) stock to shine as the company finally announced its financial results following a significant delay. That came as a major bullish trigger for the stock and it ended the week with gains of as much as 9%.
Trading Data
On Friday, CEI stock gained 3.16% to $0.78 with more than 43.14 million shares, compared to its average volume of 78.01 million shares. The stock moved within a range of $0.7562 – 0.8600 after opening trade at $0.82.
Earnings Recap
The last time the company had put out an earnings report was in November of 2021 and hence, it was perhaps only natural that the announcement of the financial results on Friday sent investors into a bit of a tizzy. Over the past year and more, Camber Energy had delayed the release of its financial results.
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That state of affairs had also led to considerable difficulties since it resulted in a run-in with the New York Stock Exchange American exchange. The exchange had decided to delist the Camber Energy stock. The warning notification from the exchange had given the company a deadline that was to end last Friday and Camber Energy managed to meet the deadline.
That led to optimism among investors and a rally in the stock. It now remains to be seen if the stock can manage to hold on to its momentum over the coming days.
Technical Data
CEI stock is trading below the 50-Day and 200-Day Moving averages of $0.82 and $1 respectively. However, the stock is trading above the 20-Day moving average of $0.75.
