Nvidia, AMD to pay 15% of China chip sales revenue to US govt- FT
Houston American Energy Corp (HUSA) stock has reached a 52-week low, dipping to $0.96, marking an 8.85% decline in the past week alone. According to InvestingPro data, the company’s shares have retreated significantly from their 52-week high of $3.20, as investors navigate a complex market environment. This latest price level reflects a significant retreat, with the stock down 23.99% over the past year and 20.16% year-to-date. The energy sector has faced numerous headwinds, and HUSA’s performance, including a concerning gross profit margin of -33.45% and negative EBITDA of $2.41M, reflects these challenges. While the company maintains strong liquidity with a current ratio of 23.22, investors are closely monitoring its response to market conditions. InvestingPro subscribers can access additional key metrics and 3 more exclusive ProTips to better understand HUSA’s financial position.
In other recent news, Houston American Energy Corp. has finalized the sale of its approximately 18% membership interest in Hupecol Meta (NASDAQ:META) LLC to Andes Operating Company LLC for a nominal amount of $1.00. This transaction, which was reported in a recent SEC filing, involved the assumption of all related liabilities by the buyer and aligns with the company’s strategy to manage its portfolio and streamline operations. The sale follows an impairment charge of $6,392,874 related to the investment, as disclosed in the company’s Annual Report for the fiscal year ending December 31, 2024. Additionally, Houston American Energy announced the appointment of Peter Longo as its new Chief Financial Officer. Longo, who has been with the company as CEO and a director since November 2024, will continue to hold both roles. His extensive experience in financial and operational positions is expected to benefit the company. Furthermore, Houston American Energy has entered into indemnification agreements with its directors and officers, providing additional protection against potential expenses and liabilities. These agreements are part of the company’s efforts to ensure robust governance and oversight mechanisms.
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