Approach Resources (AREX) : Mondays money flow indicated an uptick to downtick ratio was at 1.83. The total value of inflow transactions on upticks was $0.44 million, whereas, the total value of outflow trades on downticks was $0.24 million. The total money flow was $0.2 million, which shows a mild bullish bias. The total money flow into the stock in block trades was $0.18 million. The total value of the trades done on upticks was $0.2 million. Downticks saw transactions worth $0.02 million. The total uptick to downtick ratio stood at 8.27, mildly in favor of the bulls. Approach Resources (AREX) was trading with a -4.9% change over previous days close. It fell $0.12 during the day and reached $2.33. The stock was 29.44% compared to the previous weeks close.
Shares of Approach Resources, Inc. rose by 34.78% in the last five trading days and 22.77% for the last 4 weeks. Approach Resources, Inc. has dropped 4.62% during the last 3-month period . Year-to-Date the stock performance stands at 34.78%.
Approach Resources (NASDAQ:AREX): During Mondays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $2.50 and $2.25 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $2.55. The buying momentum continued till the end and the stock did not give up its gains. It closed at $2.48, notching a gain of 1.22% for the day. The total traded volume was 2,045,163 . The stock had closed at $2.45 on the previous day.
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.