Is Now A Good Time To Invest In Brooge Energy Limited (NASDAQ: BROG)?

Brooge Energy Limited (NASDAQ:BROG) shares, rose in value, with the stock price down by -16.74% to the previous day’s close as strong demand from buyers drove the stock to $1.89.

Actively observing the price movement in the last trading, the stock closed the session at $2.27. The value of beta (5-year monthly) was -0.35. Referring to stock’s 52-week performance, its high was $6.24, and the low was $1.59. On the whole, BROG has fluctuated by -29.74% over the past month.

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With the market capitalization of Brooge Energy Limited currently standing at about $166.40 million, investors are eagerly awaiting this quarter’s results, scheduled for Apr 07, 2024 – Apr 11, 2024.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that BROG’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of BROG currently trading nearly -16.45% and -22.82% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 34.06, while the 7-day volatility ratio is showing 54.96% which for the 30-day chart, stands at 15.95%. Furthermore, Brooge Energy Limited (BROG)’s beta value is -0.37, and its average true range (ATR) is 0.47.

A comparison of Brooge Energy Limited (BROG) with its peers suggests the former has fared considerably weaker in the market. BROG showed an intraday change of -16.74% in last session, and over the past year, it shrunk by -67.12%%.

Data on historical trading for Brooge Energy Limited (NASDAQ:BROG) indicates that the trading volumes over the past 10 days have averaged 2.74 million and over the past 3 months, they’ve averaged 13.78K. According to company’s latest data on outstanding shares, there are 88.04 million shares outstanding.

Nearly 85.62% of Brooge Energy Limited’s shares belong to company insiders and institutional investors own 8.77% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 12730.0 shares as on Mar 15, 2024, resulting in a short ratio of 3.3. According to the data, the short interest in Brooge Energy Limited (BROG) stood at 0.01% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 20280.0. The stock has fallen by -48.64% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BROG stock heading into the next quarter.