On Thursday, there were some stocks which managed to record major gains and is quite likely to be on the radars of most investors this morning as well. One such stock was that of Titan NRG (OTCMKTS:TTNN), which managed to clock gains of as much as 33% amidst heavy interest on Thursday.
Trading Data
On Thursday, TTNN stock soared 33.33% to $0.2000 with 69K shares, compared to its average volume 29K shares. The stock moved within a range of $0.1500 – 0.2000 after opening trade at $0.16.
About The Company
Titan NRG is a holding company and conducts its business through its fully owned subsidiary units. The company is mainly involved in the downstream energy and transportation industries. At this point in time, the company’s subsidiary unit NRG Dynamics operates in excess of 25 transports spread across 9 states in the United States.
Another subsidiary named APE Fuels is involved in providing commercial as well as retail propane in the Southern Arizona region and boasts of more than 2500 customers in addition to 1500 plus leased tanks. Other subsidiary units include Vespene, which is involved in wholesale sales and purchase of LPG items, while NRG Rail currently holds a lease on an 18 car rail facility.
Earnings Recap
Considering the fact that the stock soared on Thursday, it is also necessary for investors to figure out if the momentum is going to last and if the stock is going to further add to its gains or not. As it happens, the company was actually in the news yesterday after it released its annual report with regards to the fiscal year that had ended on March 31, 2022.
It could be a good idea for investors to take a look at some of the highlights from the fourth fiscal quarter of 2021. The company managed to bring in revenues to the tune of $1,930,940 during the period starting from February 4, 2022 through to March 31, 2022. The gross profits for the period stood at $583,501.
As far as accounts receivables were concerned, the figure stood at $723,240. The company noted that it released the financial results for only a portion of the first fiscal quarter and that was due to the timing of a merger. It may be a good move for investors to keep the stock on their radars today.
Technical Data
TTNN stock is trading above the 10-Day and 20-Day Moving averages of $0.15 and $0.15 respectively. However, the stock is trading below the 200-Day moving average of $0.26.
