The Pump for Northumberland Resources Inc (OTCMKTS:NHUR) Finally Pays Off
After a long period of time in which Northumberland Resources Inc (OTCMKTS:NHUR)’s chart was going the same way as Lot78 Inc (OTCMKTS:LOTED) they are finally back in the game registering a second trade session with an upward movement.
Yesterday was a good day for the stock of NHUR and especially the insiders that had a decent amount in their hands to dump. Even though we are sure some people who were aware of what is happening dumped their stock it was done gently, as the total volume didn’t go way too high from their average of 845 thousand and they closed the day with a total of a little over 1 million shares that switched hands. This in term made the total trade value of NHUR‘s stock to reach just above the $1 million mark, a thing that hasn’t happened to their stock in more than 2 weeks.
Their stock breached another barrier yesterday as it went 25% up and passed the $1 mark, but will it be able to stay there or are we going to witness yet another case similar to Norstra Energy, Inc (OTCBB:NORX), whose stock is at a halt for the last 3 days going virtually nowhere after a promising 4 day run.
Let’s take a look at another interesting thing in the face of NHUR‘s market cap which is estimated at $64 million with the current price per share. What does the company actually have to be worth that much. For those of you who haven’t followed our articles about NHUR we will take a moment to get you acquainted with their financials as listed in their latest 10-Q, which covers the first quarter of this year, with the numbers of prime interest listed below.
- cash: $5 thousand
- total assets: $975 thousand
- current liabilities: $216 thousand
- total liabilities: $355 thousand
- revenue: $39 thousand
- net loss: $152 thousand
It seems that they are doing fine, but compared to last years revenue for the same period they seem to be slowing down. Furthermore we presume that their pump will continue, because only 3 emails touting them have been sent this month from the promotional campaign worth a staggering $3 million, so rest assured that we will hear from the pumpers soon. Be sure to do your due diligence and weigh out the risks especially when dealing with a pumped stock.
