Houston Natural Resources Corp (OTCMKTS:HNRC) Stock On Watchlist After Quarter Earnings
One of the stock that could be watched by investors this morning is the Houston Natural Resources Corp (OTCMKTS:HNRC) stock. The stock may have been trading in a range on Thursday but it was in the news after it announced its financial results for the fiscal year ended December 31, 2021.
Market Stats
On Thursday, HNRC stock fell 2.4% to $0.40 with more than 49K shares, compared to its average volume of 18K shares. The stock moved within a range of $0.3500 – 0.4000 after opening trading at $0.37.
Earnings Recap
As a matter of fact, the results proved to be record breaking and hence, it is quite likely that investors are going to be watching the moves in the Houston Natural Resources stock closely. The company managed to bring in revenues of as much as $18,217,737 for the year, which reflected a significant jump of as much as 91% from the revenues of $9,523,634 in the previous year.
On the other hand, Houston Natural Resources managed to generate total earnings to the tune of as much as $6,307,247 for the fiscal year. That reflected a year on year jump of a staggering 192% from the $2,153,149 that it had managed to generate in the 12 months that ended on December 31, 2021. The earnings per share for the year stood at $0.35 and that was again a vast improvement on the $0.19 worth of earnings per share in the previous year.
Key Quote
“We are delighted that our growth is continuing with strong results for the year ending December 31,2022. The company’s increase in revenues and earnings has been due to an increase in services it provides to its portfolio companies. The company sponsored a successful $86 million NYSE listing of an energy focused special purpose acquisition corporation this month. We anticipate consistent growth from revenue and profit in 2022. The company is evaluating sponsoring other energy focused special purpose acquisition corporations in addition to water treatment plants, oil and gas and other water treatment technology acquisitions.”
Traders Corner
HNRC stock is trading below the 20-Day and 50-Day Moving averages of $0.4472 and $0.5244 respectively. However, the stock is trading below the 200-Day moving average of $1.24.