Chronicle Journal: Finance

Increased Insider Transactions Indicates Bullish Stocks: $PHX $EPSN $MRUS

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Panhandle Oil and Gas Reports Net Loss Of $3.6 Million In Its Fiscal Q3 2020

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Panhandle Oil and Gas Inc. (NYSE:PHX) Insider transaction over six months increased by 368.67%, this indicates a bullish trend. The company has reported its fiscal Q3 2020 and first nine months results. Net loss in the quarter was $3.6 million or $0.21 per share compared to $20.5 million or $1.24 per share in Q2 2020. Adjusted EBITDA was $1.2 million and reduced debt to $30 million from $35.4 million.

Recently the company announced the acquisition of two packages of royalty and mineral assets of approximately 765 net royalty assets in the Haynesville and SCOOP plays from Red Stone Resources for $6.9 million. The deal comprises of $6.4 million in cash and Panhandle stock worth $0.5 million.

Epsilon Energy Announces Its Q2 2020 Results

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Epsilon Energy Ltd. (NASDAQ:EPSN) is also showing a bullish trend with insider transactions over six months increasing by 335.54%. The company has released its Q2 2020 and 1H 2020 results in which net cash from operations was $3.1 million and $8.3 million respectively. Free cash flow was $1.3 million and $4.2 million from respective periods. The company returned around $0.4 million to stockholders through open market share purchases of 169, 285 shares at $2.51 per share.

The company has also announced the results of its annual general meeting in which all the nominated individuals in the Proxy Statement, Schedule 14A that was filed on August 4 were elected as Epsilon directors.

Merus Reports Drop In Collaboration Revenue In Q2 2020

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Another stock indicating bullish sentiment is Merus NV (NASDAQ:MRUS) which has seen insider transactions increase 329.63% over six months increased by 329.63%. the company has released its Q2 2020 financial results in which it saw a $0.4 million Yoy drop in collaboration revenue. The drop was mainly due to Incyte reimburse revenue of around $0.2 million as well as a $0.2 million drop in reimbursement revenue in its collaboration arrangements.

Other net loss for the quarter was $2.2 million compared to $0.7 million in Q2 2019. Net loss attributable to the company's common shareholders was $0.54 per share.

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