Glori Energy Inc (GLRI) lost ground during morning trading on April 21 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector halfway through the trading day. At the lunch break, shares of GLRI have fallen 9.09% to $0.03 after closing the day prior at $0.03. So far, the stock has traded as high as $0.03 and as low as $0.03. Today’s decline has come with about 113,138 shares changing hands, compared to an average 30-day volume of 43,262 for Glori Energy Inc. The price is currently below the 30-day volume weighted average price of $0.03 for GLRI.
The share depreciation gives the company a market capitalization of $1.07 million based upon 32.37 million shares outstanding. It also means that GLRI has a price-to-book ratio of 12.04:1.
In the past 52 weeks, shares of GLRI have traded as low as $0.0316 and as high as $0.38. Technical traders will take note that at $0.03, shares of GLRI are trading below their 200-day MA at $0.1 and below their 50-day MA at $0.04. 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 below them is typically regarded as bearish.
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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