Home / Basic Materials / Midday Update: Glori Energy Inc (GLRI) Charges Ahead 4.52% on September 22

Midday Update: Glori Energy Inc (GLRI) Charges Ahead 4.52% on September 22

Glori Energy Inc (GLRI) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector during morning trading on September 22. At the lunch break, shares of GLRI have gained 4.52% to $0.12 after closing the day prior at $0.12. In the first two and a half hours of trading, the stock has gone as high as $0.13 and as low as $0.12. Today’s rise has come with about 211,164 shares changing hands, compared to an average 30-day volume of 1.09 million for Glori Energy Inc. The price is currently below the 30-day volume weighted average price of $0.12 for GLRI.

The share appreciation gives the company a market capitalization of $3.72 million based upon 32.38 million shares outstanding. It also means that GLRI has a price-to-book ratio of 27.38:1.

In the past 52 weeks, shares of GLRI have traded as low as $0.0752 and as high as $0.9499. Technical traders will take note that at $0.12, shares of GLRI are trading below their 200-day MA at $0.25 and below their 50-day MA at $0.2. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.

Who is GLRI?

Glori Energy Inc is an energy technology company. The Company applies its proprietary AERO System for increasing oil recovery from reservoirs. It also owns and operates oilfields. The company’s 35 employees are led by CEO Kevin P. Guilbeau from the corporate headquarters at 4315 South Drive in Houston, TX.

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