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Ryan Smith, the CEO of US Energy Corp (NASDAQ:USEG), recently acquired a total of 1,000 shares of the company’s common stock over two transactions. The purchases occurred on February 26 and February 27, with Smith buying 500 shares each day. The shares were acquired at prices ranging from $1.63 to $1.67 per share, amounting to a total value of $1,650. The timing is notable as the stock has declined nearly 18% over the past week, though it remains up about 70% over the past six months. According to InvestingPro analysis, USEG appears undervalued at current levels. Following these transactions, Smith’s total direct ownership in the company increased to 1,241,746 shares. With a market capitalization of $56.26 million, analysts tracked by InvestingPro expect the company to return to profitability this year. InvestingPro subscribers have access to 12 additional investment tips for USEG, offering deeper insights into the company’s financial health and market position.
In other recent news, U.S. Energy Corp . has announced the pricing of a public offering of 4,236,000 shares of common stock at $2.65 per share, expected to net approximately $10.5 million. This offering, set to close in early 2025, is part of the company’s strategy to fund its industrial gas development project, including the drilling of new gas wells and acquiring processing equipment. Roth Capital Partners (WA:CPAP) is leading the offering, with Johnson Rice & Company and D. Boral (OTC:BOALY) Capital as co-managers. Additionally, the underwriters have an option to purchase up to 635,400 more shares, potentially increasing funds for share repurchases from Sage Road Capital, LLC.
In another development, U.S. Energy has extended its share repurchase program to 2026, allowing for the buyback of up to $5.0 million in common stock. Since April 2023, the company has repurchased 985,000 shares, representing 2.8% of total shares outstanding. Approximately $3.8 million remains for future repurchases under this program. The company emphasizes that repurchases will depend on factors such as capital needs and market conditions, and the program may be adjusted as necessary. These announcements reflect U.S. Energy’s ongoing efforts to manage capital efficiently and enhance shareholder value.
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