Transglobe Energy Corp (TGA) Reaches New 12-Month Low at $1.09

Transglobe Energy Corp (NASDAQ:TGA) (TSE:TGL)’s share price reached a new 52-week low on Friday . The company traded as low as $1.09 and last traded at $1.09, with a volume of 395,237 shares traded. The stock had previously closed at $1.24.

TGA has been the topic of a number of recent research reports. ValuEngine lowered shares of Transglobe Energy Corp from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Zacks Investment Research lowered shares of Transglobe Energy Corp from a “hold” rating to a “sell” rating in a research report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Transglobe Energy Corp presently has an average rating of “Hold” and a consensus target price of $3.50.

The stock’s market cap is $77.26 million. The firm’s 50-day moving average is $1.25 and its 200-day moving average is $1.41.

Transglobe Energy Corp (NASDAQ:TGA) (TSE:TGL) last released its quarterly earnings results on Monday, August 14th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.08. Transglobe Energy Corp had a negative net margin of 119.18% and a negative return on equity of 10.87%. The company had revenue of $40.44 million for the quarter. Equities research analysts predict that Transglobe Energy Corp will post ($0.34) earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Cutter & CO Brokerage Inc. boosted its stake in shares of Transglobe Energy Corp by 0.9% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 117,978 shares of the basic materials company’s stock worth $158,000 after purchasing an additional 1,100 shares during the last quarter. Brandes Investment Partners LP boosted its stake in shares of Transglobe Energy Corp by 773.3% during the 1st quarter. Brandes Investment Partners LP now owns 140,598 shares of the basic materials company’s stock worth $219,000 after purchasing an additional 124,498 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Transglobe Energy Corp by 19.1% during the 1st quarter. Van ECK Associates Corp now owns 689,978 shares of the basic materials company’s stock worth $1,093,000 after purchasing an additional 110,491 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Transglobe Energy Corp during the 1st quarter worth about $1,094,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Transglobe Energy Corp by 1.1% during the 1st quarter. Renaissance Technologies LLC now owns 1,621,400 shares of the basic materials company’s stock worth $2,529,000 after purchasing an additional 17,300 shares during the last quarter. 27.79% of the stock is currently owned by institutional investors.

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Transglobe Energy Corp Company Profile

TransGlobe Energy Corporation is an oil exploration and production company. The Company’s activities are concentrated in the Arab Republic of Egypt (Egypt). The Company conducts its operations through the Arab Republic of Egypt segment. The Company is primarily engaged in oil exploration, development, production and the acquisition of properties.

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