RE:RE:RE:RE:RE:As coal-fired plants retire, demand for natural gas to grow
I've been watching the trade transactions closely as of recent and came to the conclusion that first energy capital is pushing the price down in order to accumulate more shares at a lower price, by dumping shares and buying it back. They placed a bypass trade at 10.57am for 98,000 shares being both the seller and buyer @ 1.65, which pushed the price down from 1.70. Yesterday they were accumulating at 1.70, where they cross-traded 20,000 shares @ 1.73, dropping the price from 1.75. Then swooped 5,000 shares @1.70 at 3.59pm being the last transaction. GMP securities, Claraus and Raymond James were also buying too recently. With the rising gas price and current production, this is a revenue generating company. It's just lacking news at the moment, which explains the low volume. Once drilling starts next month, it should generate more interest and rebound of price. 3 analysts predicts a $3 range target price, so I'm holding on until business picks up.