On Wednesday, Shares of Ultra Petroleum Corp. (NYSE:UPL), lost -5.79% to $2.44.
Ultra Petroleum Corp.’s stock finished Wednesday’s session 7.05% higher at $2.58. A total of 5.68 million shares were traded, which was above its three months average volume of 3.91 million shares. Over the last one month and the previous three months, Ultra Petroleum Corp.’s shares have declined 36.92% and 57.64%, respectively. Additionally, the stock has plummeted 80.40% since the starting of 2015. The company’s shares are trading below their 50-day and 200-day moving averages by 43.23% and 73.87%, respectively. Ultra Petroleum Corp.’s stock traded at a PE ratio of 1.93 and has a Relative Strength Index (RSI) of 36.32.
Ultra Petroleum Corp., an independent oil and gas company, engages in the acquisition, exploration, development, production, and operation of oil and natural gas properties in the United States. It primarily focuses on developing natural gas reserves in the Green River Basin of Wyoming; oil reserves in the Uinta Basin of Utah; and natural gas reserves in the Appalachian Basin of Pennsylvania.
Shares of Great Basin Scientific Inc (NASDAQ:GBSN), declined -5.17% to $1.10, during its last trading session.
Great Basin Scientific declared the Company has reached a securities purchase agreement with institutional investors to issue $22.1 million of senior convertible notes and related common stock purchase warrants for gross aggregate proceeds of $18.4 million that will be used to fund the Company’s ongoing operations. In addition, certain Series C Warrant holders who are participating in the Notes, are also exchanging 1,050,000 of their warrants at a deemed value of $2.00 for $2.1 million of senior convertible notes.
The cash component of the transaction will be structured as Original Issue Discount (“OID”) convertible notes, and under the terms of the senior convertible note agreement no additional interest will accrue during the duration of the Notes. The interest discount will be applied to each issuance of principal, yielding $4.6 million in gross proceeds per tranche. The initial tranche of $4.6 million, before deducting costs of the offering and fees payable to a placement agent in relation to the offering, is predictable to close on or around December 30, 2015 subject to the Company obtaining all necessary regulatory approvals counting the approval of NASDAQ. Under the terms of the Note, the Company will make no payments during the first four months. After this initial four month period, the Notes will amortize on a straight line basis over 12 months. The Notes’ principal may be repaid, at the Company’s election, in either cash or, subject to certain conditions, shares of the Company’s common stock at a discount to the then-current market price.
In addition to the Notes, the Company will issue common stock purchase warrants equal to 16.6% of the Company’s issued and outstanding common stock, to the purchasers of the Notes. Each warrant will become exercisable six months after issuance, and will allow the warrant holder to acquire one additional share of common stock of the Company at a price equal to 120% of the market price per share on the date of closing. The warrants expire 60 months from the date they become exercisable.
Great Basin Scientific, Inc., a molecular diagnostic testing company, doing business as Great Basin Corporation, develops and commercializes molecular diagnostic systems that are designed to test hospital-attained infections.
Finally, Gerdau SA (ADR) (NYSE:GGB), ended its last trade with -2.46% loss, and closed at $1.19.
On Tuesday, December 22, 2015, Nasdaq Composite ended at 5,001.11 up 0.65%, Dow Jones Industrial Average advanced 0.96%, to finish the day at 17,417.27, and the S&P 500 closed at 2,038.97, up 0.88%.
Gerdau SA’s shares advanced 1.71% to close Tuesday’s session at USD 1.19. The share price vacillated between USD 1.16 and USD 1.21 marking a new 52-week low during the session. The shares recorded a trading volume of 2.64 million shares, which was below its 50-day daily average volume of 6.48 million shares and its 52-week average volume of 5.62 million shares. Over the last three days Gerdau SA’s shares have declined by 2.46% and in the past one week the shares have moved down 7.75%. Moreover, in the last six months the stock has lost 53.88% and year to date the shares have shed 64.10%. Gerdau SA has a current dividend yield of 7.22%. Further, the shares are trading at a price to earnings ratio of 4.33 contrast to a historical PE ratio of 11.48. Additionally, the shares are trading at a price to sales (TTM) ratio of 0.17 and at a price to book ratio (MRQ) ratio 0.21.
Gerdau S.A. produces and commercializes steel products worldwide. It operates through Brazil, North America, Latin America, Special Steel, and Iron Ore segments. The company provides semi-finished products, which comprise billets that are bars from square sections of long steel that serve as inputs for the production of wire rod, rebars, and merchant bars; blooms for use in the manufacture of springs, forged parts, heavy structural shapes and seamless tubes; and slabs, which are used in the steel industry for the rolling of various flat rolled products, in addition to to produce hot and cold rolled coils, heavy slabs, and profiles.
