Notable News to Watch: Yuma Energy (NYSE:YUMA)

Yuma Energy (NYSE:YUMA) stock identified change of 37.96% away from 52-week low price and recently located move of -80.36% off 52-week high price. It has market worth of $2.92M. YUMA stock has been recorded -41.79% away from 50 day moving average and -41.75% away from 200 day moving average. Moving closer, we can see that shares have been trading -28.81% off 20-day moving average.

On March 20, 2020, Yuma Energy (NYSE American:YUMA) provided an update on the Company’s financial status and ability to restructure its liabilities and capital structure.  As previously disclosed, in September 2019, YE Investment, LLC, an affiliate of Red Mountain Capital Partners, LLC (Red Mountain), purchased all of the Company’s outstanding senior secured bank indebtedness and related liabilities under the Company’s senior credit facility (the Credit Facility).  The Credit Facility was then modified to reduce the outstanding principal balance from approximately $32.8 million, plus accrued and unpaid interest and expenses, to approximately $1.4 million (the Modified Note).  In September 2019, Yuma entered into a Restructuring and Exchange Agreement (the Restructuring Agreement) with Red Mountain and affiliates, which was to result in the i) exchange of the Modified Note for a new convertible note that would be convertible into Yuma common stock, and ii) conversion of the Company’s Series D Preferred Stock into Yuma Common stock. Finally, in December 2019, the parties entered into an amendment to the Restructuring Agreement and Credit Facility under which Red Mountain provided an additional two-year senior secured delayed-draw term loan for up to $2 million, maturing on September 30, 2022, from which the Company has drawn $850,000 to date.  The transactions contemplated by the Restructuring Agreement were subject to stockholder approval pursuant to NYSE American rules and requirements and the Restructuring Agreement included a termination right in the event such stockholder approval was not received by December 31, 2019. Please refer to our prior press releases and prior filings with the Securities and Exchange Commission for more comprehensive information regarding the above.

The Basic Materials sector company, Yuma Energy noticed change of -0.59% to $1.69 along volume of 36529 shares in recent session compared to an average volume of 252.59K. The stock observed return of -14.21% in 5 days trading activity. The stock was at -46.01% over one month performance. YUMA’s shares are at -45.83% for the quarter and driving a -4.52% return over the course of the past year and is now at -43.85% since this point in 2018.

The average volatility for the week at 20.69% and for month was at 14.95%. There are 1.73M shares outstanding and 1.21M shares are floated in market. Right now the stock beta is 2.11.

John Gonzalez covers business and finance news. He is the only person we trust to provide breaking news in the finance category. Having already completed an Associates Degree in Psychology, John Gonzalez is now finishing his Bachelor’s degree in Communications. In preparation for working in the advertisement sector, John is writing financial content and analysis. On a daily basis, he works on articles regarding the following topics: business, top trends, technology, and politics.

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