Recoiled Stocks in Momentum: Exxon Mobil (NYSE:XOM), Rennova Health, (NASDAQ:RNVA)

Several matter pinch shares of Exxon Mobil Corporation (NYSE:XOM) [Trend Analysis], as shares moving up 0.65% to $90.87 with a share volume of 7.86 Million. The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Northern District of Texas on behalf of investors who purchased Exxon Mobil Corporation (XOM) securities between February 19, 2016 and October 27, 2016.

According to the complaint, Exxon’s public statements were materially false and misleading by virtue of failure to disclose that: (a) Exxon’s own internally generated reports concerning climate change recognize the environmental risks caused by global warming and climate change; (b) given the risks associated with global warming and climate change, the Company would not be able to extract the existing hydrocarbon reserves Exxon claimed to have and, therefore, a material portion of Exxon’s reserves were stranded and should have been written down; (c) Exxon had employed an inaccurate “price of carbon” the cost of regulations such as a carbon tax or a cap-and-trade system to push down emissions in evaluating the value of certain of its future oil and gas prospects in order to keep the value of its reserves materially overstated. The stock is going forward its 52-week low with 31.49% and moving down from its 52-week high price with -3.24%. To have technical analysis views, liquidity ratio of a company was calculated 0.90 as evaluated with its debt to equity ratio of 0.27. The float short ratio was 1.02%, as compared to sentiment indicator; Short Ratio was 3.81.

Rennova Health, Inc. (NASDAQ:RNVA) [Trend Analysis] luring active investment momentum, shares a loss -1.82% to $0.09. Rennova Health, Inc. (RNVA) reported that pricing of an underwritten public offering of 12,350 shares of its Series H Convertible Preferred Stock at a per share price to the public of $1,000. The Series H Preferred Stock has a stated value of $1,000 per share with each share convertible into 11,111 shares of common stock, at a conversion price of $0.09 per share.

The gross proceeds to Rennova Health, Inc. from this offering are expected to be approximately $12,350,000 before deducting underwriting discounts and commissions and other estimated offering expenses. Approximately $8,300,000 of the net proceeds from this offering will be used to redeem certain outstanding shares of Rennova Health’s Series G Convertible Preferred Stock. The offering is expected to close on December 20, 2016, subject to customary closing conditions. The total volume of 4.11 Million shares held in the session was surprisingly higher than its average volume of 2615.51 shares. EPS estimates indicating constrictive facts, the current year from sell-side analysts, Price to current year EPS stands at 80.20%. While take a short look on price to sales ratio, that was 0.22 and price to earning ratio of 0.08 attracting passive investors.


About Aaron Smithies

Aaron Smithies has a wide look on current monetary and financial events. He is an editor and a writer. His views; At Streetwise Report, we think the best opportunities arise from a complete understanding of all investing disciplines in order to identify the most attractive stocks at any given time. Interests: Biotech, Finical markets, Dividend stock ideas & income, Energy stocks, Consumer goods stocks

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