PARR Crosses Below Key Moving Average Level Tuesday, May 2, 11:22 AM ET, by Market News Video Staff In trading on Tuesday, shares of Par Pacific Holdings Inc (PARR) crossed below their 200 ...
How The Pieces Add Up: FYT Targets $54 Monday, May 8, 7:24 AM ET, by Market News Video Staff Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, ...
Looking back to 2 days ago, Par Pacific Holdings Inc (NYSE:PARR) priced a 5,000,000 share secondary stock offering at $16.00 per share. Buyers in that offering made a considerable investment into the company, expecting that their investment would go up over the course of time. In trading on Thursday, bargain hunters could buy shares of PARR and achieve a cost basis 2.3% cheaper than those buyers, with shares changing hands as low as $15.63 per share.
Secondaries can often present buying opportunities for bullish investors interested in purchasing shares, because the sudden extra supply of stock tends to require that the offering be priced at an attractive discount to where the stock had previously been trading before the offering announcement. At last check, Par Pacific Holdings Inc shares are currently trading down about 2.6% on the day. The chart below shows the one year performance of PARR shares, versus its 200 day moving average:
Looking at the chart above, PARR's low point in its 52 week range is $5.91 per share, with $20.18 as the 52 week high point — that compares with a last trade of $15.72.
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