Microvast Holdings announces departure of chief financial officer
Ryan Lewis (JO:LEWJ), the CEO of US Energy Corp (NASDAQ:USEG), recently acquired additional shares in the company. The timing is notable as the stock has declined over 27% in the past week, though it maintains an impressive 128% gain over the past six months. According to a recent SEC filing, Lewis purchased a total of 1,000 shares of common stock over two transactions on January 27 and January 28, 2025. The shares were bought at prices ranging from $2.31 to $2.38 per share, amounting to a total purchase value of $2,345. Following these transactions, Lewis now owns 833,746 shares of US Energy Corp, representing a significant stake in the $67.7 million market cap company. InvestingPro analysis suggests the stock is currently trading below its Fair Value, with additional insights available about the company’s financial health and growth prospects.
In other recent news, U.S. Energy Corp has reported significant developments in its operations. The American energy company has priced its public offering of 4,236,000 shares of common stock at $2.65 per share, expected to net approximately $10.5 million after underwriting commissions. This capital raise is intended to fund the company’s industrial gas development project.
In addition to this, U.S. Energy Corp. has discovered high-quality helium in Montana, with laboratory results confirming concentrations up to approximately 1.5%. This discovery enhances the economic potential of the company’s assets and positions U.S. Energy as a potential leader in carbon sequestration initiatives.
Furthermore, the company has cleared its debt and initiated a new development program in Northwest Montana. Roth Capital Partners (WA:CPAP), Johnson Rice & Company, and D. Boral (OTC:BOALY) Capital are managing the offering. Finally, the company’s CEO, Ryan Smith, has had his contract extended until 2027, ensuring his leadership in the company’s future endeavors. These are among the recent developments for U.S. Energy Corp.
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