Stock Update (NASDAQ:REXX): Rex Energy Corporation Plan to Avoid Delisting Accepted by Nasdaq
Rex Energy Corporation (NASDAQ:REXX) announced that Nasdaq has notified the company that it has accepted Rex Energy’s request for continued listing on the Nasdaq Capital Market. In addition, the company has been granted an additional extension through June 12, 2017 to regain compliance with Nasdaq’s minimum bid price requirement.
“We would like to thank Nasdaq for the acceptance of our request for continued listing,” said Tom Stabley, Rex Energy’s President and Chief Executive Officer. “We will be proactive in executing our business plan to increase our share price and obtain full compliance with the Nasdaq listing standards.” (Original Source)
Shares of Rex Energy rose over 13% to $0.57 in after-hours trading. REXX has a 1-year high of $2.43 and a 1-year low of $0.23. The stock’s 50-day moving average is $0.45 and its 200-day moving average is $0.58.
On the ratings front, REXX stock has been the subject of a number of recent research reports. In a report issued on November 9, Wells Fargo analyst Gordon Douthat maintained a Hold rating on REXX. Separately, on September 29, Stifel Nicolaus’ Michael Scialla upgraded the stock to Hold and has a price target of $0.52.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Gordon Douthat and Michael Scialla have a yearly average return of 12.1% and a loss of -3.3% respectively. Douthat has a success rate of 42% and is ranked #1027 out of 4269 analysts, while Scialla has a success rate of 52% and is ranked #3459.
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.