Approach Resources (NASDAQ:AREX) : During the past 4 weeks, traders have been relatively bearish on Approach Resources (NASDAQ:AREX), hence the stock is down -18.61% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -9.57% relative to the S&P 500. The 4-week change in the price of the stock is -17.3% and the stock has fallen -8.41% in the past 1 week.
The company shares have dropped -64.17% from its 1 Year high price. On Jul 15, 2015, the shares registered one year high at $5.78 and the one year low was seen on Feb 25, 2016. The 50-Day Moving Average price is $2.37 and the 200 Day Moving Average price is recorded at $1.74.
The stock has recorded a 20-day Moving Average of 11.41% and the 50-Day Moving Average is 19.69%.
Approach Resources (NASDAQ:AREX): On Fridays trading session , Opening price of the stock was $1.96 with an intraday high of $2.07. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $1.96. However, the stock managed to close at $1.96, a loss of 0.51% for the day. On the previous day, the stock had closed at $1.97. The total traded volume of the day was 744,282 shares.
In an insider trading activity, Gregg Vean J. Iii, director of Approach Resources Inc, had purchased 10,000 shares on November 13, 2014. The total value of the transaction was $118,800. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.
Approach Resources Inc. is an independent energy company. The Company is engaged in the exploration, development, production and acquisition of oil and gas properties in the Midland Basin of the greater Permian Basin in West Texas. The Company focuses on finding and developing oil and natural gas reserves in oil shale and tight gas sands. The Company is developing resource potential from the Wolfcamp shale oil formation. The Companys additional drilling targets include the Clearfork, Canyon Sands, Strawn and Ellenburger zones. The Company refers its development project in the Permian Basin as Project Pangea, which includes Pangea West. The Company also owns interest in the East Texas Basin. The Company owns and operates approximately 729 producing oil and gas wells in the Permian Basin.