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In recent transactions disclosed by US Energy Corp (NASDAQ:USEG), CEO Ryan Smith acquired additional shares of the company’s common stock. On February 24 and 25, Smith purchased a total of 1,000 shares, with prices ranging from $1.71 to $1.84 per share, amounting to a total investment of $1,775. The timing is notable as the stock has declined 21% in the past week, according to InvestingPro data. Following these acquisitions, Smith’s total direct ownership increased to 1,240,746 shares. This move reflects continued confidence in the company’s prospects amid the volatile energy market. With analyst price targets ranging from $2.75 to $3.50 and InvestingPro analysis suggesting the stock is currently undervalued, Smith’s purchase aligns with positive market signals. InvestingPro subscribers can access 10 additional key insights about USEG’s financial health and market position.
In other recent news, U.S. Energy Corp . announced the extension of its share repurchase program to June 30, 2026. The program allows for the repurchase of up to $5.0 million in outstanding common stock, with $3.8 million still available for future buybacks. This decision aligns with the company’s strategy to enhance shareholder value. Additionally, U.S. Energy has set the price for its public offering of 4,236,000 shares at $2.65 per share, aiming to raise approximately $10.5 million. The proceeds are intended to fund its industrial gas development project, which includes drilling new gas wells and acquiring necessary processing equipment. Roth Capital Partners (WA:CPAP) is managing the offering, with Johnson Rice & Company and D. Boral (OTC:BOALY) Capital as co-managers. The offering is expected to close on January 23, 2025. This capital raise is part of U.S. Energy’s broader strategy to optimize production and generate sustainable cash flow.
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