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Why Camber Energy Inc. (CEI) stock performed well in the after-hours on Wednesday?

ICD Stock

ICD Stock

Camber Energy Inc. (CEI) shares surged 12.33% in after-hours on Wednesday, September 22, 2021, and closed the daily trading at $1.64. However, in the regular trading session of Wednesday, CEI’s stock lost 8.75%. CEI shares have risen 202.97% over the last 12 months, and they have moved down 10.98% in the past week. Over the past three months, the stock has gained 110.68%, while over the past six months, it has soared 39.05%.

Let’s check out its recent news and developments.


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CEI Patented Carbon-Capture System

On August 24, 2021, Viking Energy Group, which is the majority-owned subsidiary of Camber Energy, Inc. (CEI), entered into an Exclusive Intellectual Property License Agreement with ESG Clean Energy, LLC (ESG) regarding ESG’s patent rights and know-how related to stationary electric power generation, including methods to utilize heat and capture carbon dioxide.

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The ESG Clean Energy System can be used in different environments, including, Plastics Recycling Operations, nitrogen removal, microgrids, data centres, crypto mining operations.

Acquisition of Simson-Maxwell

On August 9, 2021, Camber Energy, Inc(CEI) acquired a majority interest in Simson-Maxwell Ltd, through its subsidiary.

CEI investment in Viking Energy

On July 30, 2021, Camber Energy, Inc. (CEI) completed another deal with its majority-owned subsidiary, Viking Energy Group, Inc. (VKIN) in which Camber purchased $11 million worth of common stock of Viking.

CEI received NYSE notice

On May 21, 2021, Camber Energy, Inc. (CEI) was notified by the NYSE American that the Company was not in compliance with the Exchange’s continued listing standards as outlined in Section 1007 of the NYSE American Company Guide given the Company failed to timely file (the “Filing Delinquency”) its Form 10-K for the 9 months ended December 31, 2020. The delinquency will be cured via the filing of the Report.

Conclusion

Well, as of this writing, we are unable to find any recent news or development which could justify its loss and gains on Wednesday. Let’s see how it performs in the coming trading sessions.

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About CEI

Camber Energy, Inc is a growth-oriented energy company, based in Houston, Texas. Camber through its majority-owned subsidiary Viking Energy Group, Inc., owns a working interest in multiple oil and gas fields across Texas, Louisiana, and Mississippi and provides custom energy solutions to commercial and industrial clients in North America.

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