Dune Energy, Inc. (OTCBB:DUNR)’s Heated Friday Session
Dune Energy, Inc. (OTCBB:DUNR) is a rare company in the OTC markets, mainly due to the impressive numbers contained in its financial statements. However, the ticker rarely sees much trading and its price movements are almost unnoticeable.
On Friday, DUNR announced a conference call detailing its Q3 financial results and the progress that the company is making. This was enough to spark some interest in the stock as well as a small climb in price.
The stock was traded in more than 10 times its average volume, with 236 thousand shares switching hands, and registered a percentile gain in price of 5.47%. This movement helped generate a trade value of $312 thousand, the highest in more than 2 months.
It’s a mystery why DUNR isn’t traded that much, considering the financial statements that the company is filing. The numbers of prime interest from their latest one you can see listed below.
- cash: $16 million
- total assets: $278 million
- current liabilities: $21 million
- total liabilities: $114 million
- revenues: $16 million
- net loss: $1.3 million
As you can see DUNR has some impressive numbers listed in its Q2 report considering they are an OTC company. This, however, doesn’t mean that there is much interest in its stock. The probable reason is that it’s not the speculative play that most of the traders in the OTC market are looking for.
Despite the fact that DUNR closed the second quarter of this year at a loss, there are still people who are in for the long-run. The fact that it hasn’t been pumped in quite a while is another plus for the ticker.
That of course doesn’t mean that you should go head first. Be sure to do your due diligence and weigh out the risks if you have any thoughts of investing in DUNR, because it’s not one of the cheapest OTC stocks out there.
Friday’s session went quieter for Globalstar, Inc. (OTCMKTS:GSAT) as they registered $977 thousand in dollar volume dropping below the $1 million mark in more than a month. SK3 Group, Inc. (OTCMKTS:SKTO) on the other hand took a blow and closed 27% down on a volume of 29 thousand shares.
