Nasdaq Stocks

Penny Stock In Focus: Bellatrix Exploration Ltd (NYSE:BXE)

Bellatrix Exploration Ltd (NYSE:BXE) is one of those penny stocks that have managed to fetch the investors’ attention in recent days. More recently, the company reported the appointment of Brent Eshleman as the new CEO and President of company.

As previously stated in November 2016, Eshleman was engaged as Interim President and CEO of the firm and today’s announcement closes the formal leadership switch as part of the firm’s succession planning measures. Eshleman joined Bellatrix as EVP in July 2012 and was later named EVP and COO of the firm in September 2014. He is an experienced industry leader with more than 30 years of gas and oil industry experience and an expert engineer by trade.

Mr. Raymond Smith has retired from his CEO and President role, effective immediately.  He was appointed Chief Executive Officer and President of True Energy Inc. on January 26, 2009 and has supported the development and growth of Bellatrix in the past 8 years. Mr. Smith has even retired from Bellatrix’s Board.

The outlook

Bellatrix Exploration, one of the buzzing penny stocks, has been struggling recently, but the selling pressure may end soon. It is because the company lately noted a Hammer Chart Pattern on charts which indicate that the stock is approaching a bottom.

Moreover, earnings projections have been improving for this firm, even despite the poor trading lately. In the past 60 days, 1 projection have gone higher, as against to none lower, whereas the consensus projection has also shifted the right direction.

Projections have actually positively changed so much that the best penny stock now has a Zacks Rank 2 (Buy) indicating this relatively unloved penny stock could be set for a breakout soon. It will be especially valid if stock can gain momentum from here and make a way to continue build on this encouraging trading development.

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