Undervalued Abraxas Petroleum’s Stock (NASDAQ: AXAS) Soars Amid Rising Demand For Oil and Gas

AXAS’s performance on Friday was lightning so it grew 28.51% to $0.2763 making investors demand more shares as daily volume increased to 29,427,233 units which are far greater than the average volume. In pre-market trade at 6:41 AM EDT AXAS surges to $0.4320.

After the U.S economy reopens demand for energy products rise, obviously, crude oil (Brent) slowly climbs despite Saudi’s waged price war against Russia’s oil and gas industry. So, other companies’ stocks join this triumphal crowd by gaining positively since last Friday.

Abraxas Petroleum’s actual value is $372,456,000 as of Q4 2019. However, the market cut its value to $46.529 million despite the company has good financial standings and a healthy balance sheet. Most possibly, AXAS could soon balance its both values as dividend-focused investors get attracted steadily.

Alex Krakowsky

Editor in Chief.Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life