Camber Energy (CEI) Stock Is Soaring On Earnings

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Camber Energy CEI Stock News

Camber Energy Inc (NYSEAMERICAN: CEI) is one of the big gainers in the pre-market this morning after the company announced the release of its quarterly report. The report showed vast improvements in various areas of the company from balance sheet to debt reduction and liquidity. Today, we’ll talk about the report, what we’re seeing from CEI stock and what we’ll be watching for ahead.

CEI Edges Up On Financial Results

As mentioned above, Camber Energy is off to an incredibly strong start to the trading session in the pre-market hours this morning after the company announced the release of its quarterly report. In a press release, the company announced that it had released its quarterly report for the quarter ending September 30, 2018 on Form 10-Q with the SEC.

In the report, CEI showed some improvement in its balance sheet and the work it is doing toward regaining compliance with the NYSE American, something that must happen by December 15, 2018.  The company also announced that it has extinguished all of its bank debt with the International Bank of Commerce as part of the sale of assets to N&B Energy LLC.

Although the news above is all positive, the biggest focal point of the report had to do with turning a deficit into equity. In the report, the company said that it has improved its equity position from stockholders having a deficit of $28.1 million in the previous quarter to having equity in the amount of $2.3 million in the most recent quarter. This is a key factor when it comes to regaining compliance with the NYSE American.

In a statement, Louis G. Schott, interim CEO at CEI, had the following to offer:

These results are incredible considering where the Company was one year ago. As of September 30, 2017, the Company was in a highly precarious position with limited liquidity, massive debt and declining asset value. Since that time, our team has worked very hard to turn the Company around, shedding all bank debt and positioning the Company for the future. We now stand as a company, with no bank debt and sufficient liquidity for growth.

These results also position us to better evaluate and acquire other opportunities in the future.

What We’re Seeing From The Stock¬†

With the positive earnings report in mind, investors are excited. That can clearly be seen from the movement that we’re seeing in the value of the stock this morning. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (7:51), CEI is trading at $0.22 per share after a gain of $0.04 per share or 22.01% so far today.

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What We’ll Be Watching For Ahead

Moving forward, the iWatch Markets team will continue to keep a close eye on CEI. In particular, we’re interested in following the company’s continued work with regard to regaining compliance with the NYSE American as well as the continued improvement of the company’s balance sheet. Nonetheless, we’ll keep a close eye on the news and bring it to you as it breaks!



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