Should You Exit Gevo, Inc. (GEVO), VAALCO Energy, Inc. (EGY) And ParkerVision, Inc. (PRKR)?
New York, NY – GDP INSIDER – 12/29/2014.
At least three companies’ shares were facing downside pressures for different reasons. Gevo, Inc. (NASDAQ:GEVO), VAALCO Energy, Inc. (NYSE:EGY) and ParkerVision, Inc. (NASDAQ:PRKR) were the companies to bear the brunt. Though there was not much unfavorable news, two of them were bearing the bearish brunt.
Gevo, Inc. (NASDAQ:GEVO) has been in a long term downtrend and the same continued in yesterday’s trading session as well. The stock was down by 5.41% to close at $0.35. Moving ahead the stock has strong support at $0.28 and $0.20 on the downside whereas resistance is pegged at $0.40, $0.50 on the upside.
On 22nd December’2014, Gevo, Inc. (NASDAQ:GEVO) along with U.S navy had announced “alcohol-to-jet” (ATJ) supersonic flight which would help the navy to increase efficiency and reduce the dependence on fuel.
The company revealed that that production has resumed from its Well 2-H in the Ebouri field after successfully completing the wireline remedial work. VAALCO Energy, Inc. (NYSE:EGY) believes that it would be able to stabilize production at about 2,500 gross barrels of oil a day and 700 net to VAALCO.
It had to shut-in the well temporarily in early October following the detection of pressure communication between casing and the tubing. The leak from tubing was repaired through wireline intervention. The company indicated that it continued its drilling program with the second platform well. VAALCO Energy, Inc. (NYSE:EGY) said that it was aiming for production in February next year from the southernmost fault block.
ParkerVision, Inc. (NASDAQ:PRKR) disclosed recently that it struck a funding deal with a litigation investment company, 1624 PV. As a result, a maximum of $7 million fund would be available in the form of legal fees, as well as, costs for any litigation relating to patent infringement that would be brought up.
According to the deal, ParkerVision, Inc. (NASDAQ:PRKR) would compensate and reimburse 1624 PV from gross proceeds from legal actions subject to a maximum to be determined in multiple of the disbursed funds. The company and the funder also struck a warrant subscription deal enabling the funder to buy about 5.65 million shares.
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