Rex Energy Corporation (NASDAQ:REXX) announced that it has regained full compliance with the continued listing requirements for The Nasdaq Capital Market.
On May 30 2017, Rex Energy received notice from the Nasdaq Listing Qualifications department stating that because the company’s closing bid price of its common shares has been at or above $1.00 per share for 10 consecutive trading days, the company has regained compliance with the minimum bid price requirement under Listing Rule 5550 (a)(2) and Nasdaq now considers the matter closed.
“We are pleased to have regained compliance with Nasdaq’s listing requirements,” said Tom Stabley, President and CEO of Rex Energy. “We will continue to focus on the execution of our business plan to deliver solid growth and increase shareholder value.”
Shares of Rex Energy closed yesterday at $2.93, down $1.05 or -26%. REXX has a 1-year high of $9.84 and a 1-year low of $0.41. The stock’s 50-day moving average is $0.57 and its 200-day moving average is $0.55.
Rex Energy Corp. is an independent energy company, which engages in acquisition, production, exploration and development of oil, natural gas and natural gas liquids with properties concentrated in the Appalachian and Illinois regions of the United States. It operates through the Exploration and Production and Field Services segment. The Exploration and Production segment engages in the exploration, acquisition, development and production of oil, natural gas and Liquids. The Field Services segment operates and manages water sourcing, water transfer and water disposal services, primarily in the Appalachian Basin.