Stock of the Day: Is KLR Energy Acquisition Corp a Buy? The Stock Reaches 52-Week High Today

Stock of the Day: Is KLR Energy Acquisition Corp a Buy? The Stock Reaches 52 Week High Today

The stock of KLR Energy Acquisition Corp (NASDAQ:KLRE) hit a new 52-week high and has $29.33 target or 189.00% above today’s $10.15 share price. The 9 months bullish chart indicates low risk for the $101.50M company. The 1-year high was reported on Nov, 3 by Barchart.com. If the $29.33 price target is reached, the company will be worth $191.84 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 20,000 shares traded hands or 1246.80% up from the average. KLR Energy Acquisition Corp (NASDAQ:KLRE) has risen 1.81% since March 31, 2016 and is uptrending. It has outperformed by 0.60% the S&P500.

According to Zacks Investment Research, “KLR Energy Acquisition Corporation is a blank check company. It is formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. KLR Energy Acquisition Corporation is based in Houston, Texas.”

More notable recent KLR Energy Acquisition Corp (NASDAQ:KLRE) news were published by: Prnewswire.com which released: “KLR Energy Acquisition Corp. Announces Pricing of $80000000 Initial Public …” on March 10, 2016, also Marketwatch.com with their article: “KLR Energy Acquisition Corp. Un” published on January 22, 2016, Marketwatch.com published: “KLR Energy Acquisition Corp. trading just above IPO issue price” on March 11, 2016. More interesting news about KLR Energy Acquisition Corp (NASDAQ:KLRE) were released by: Prnewswire.com and their article: “KLR Energy Acquisition Corp. Announces Consummation of Over-Allotment Exercise …” published on March 21, 2016 as well as Prnewswire.com‘s news article titled: “KLR Energy Acquisition Corp. Completes $80000000 Initial Public Offering” with publication date: March 16, 2016.

KLRE Company Profile

KLR Energy Acquisition Corp. is a development-stage company. The Firm is formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. The Firm focuses on the sector that is engaged in the exploration, exploitation, operation and development of natural gas and crude oil wells.

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