Volatile Stocks Under Street Updates: Rennova Health (NASDAQ:RNVA), Resolute Energy (NYSE:REN)

Several matter pinch shares of Rennova Health, Inc. (NASDAQ:RNVA) [Trend Analysis], as shares moving down -30.62% to $0.09 with a share volume of 15.52 Million. Rennova Health, Inc. (RNVA) reported 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. Aegis Capital Corp. is acting as the sole book-running manager for the offering. The stock is going forward its 52-week low with 12.47% and moving down from its 52-week high price with -95.90%. To have technical analysis views, liquidity ratio of a company was calculated 0.30. The float short ratio was 5.81%, as compared to sentiment indicator; Short Ratio was 0.84.

Resolute Energy Corporation (NYSE:REN) [Trend Analysis] luring active investment momentum, shares an advance 4.81% to $41.00. Resolute Energy Corporation (REN) intended to offer and sell 3,800,000 shares of its common stock in an underwritten public offering. The Company intends to use the net proceeds from the offering to repay the Company’s second lien secured term loan, with any additional proceeds to be used to partially repay outstanding debt under the Company’s revolving credit facility.

The Company will grant the underwriters in the common stock offering an option for 30 days to purchase up to an additional 570,000 shares of common stock.The common stock will be offered pursuant to a prospectus supplement and an accompanying prospectus filed as part of an effective shelf registration statement filed with the Securities and Exchange Commission on Form S-3. The total volume of 1.31 Million shares held in the session was surprisingly higher than its average volume of 1122.85 shares. EPS estimates indicating constrictive facts, the current year from sell-side analysts, Price to current year EPS stands at -463.60%, and looking further price to next year’s EPS is 122.40%. While take a short look on price to sales ratio, that was 5.01.

 

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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