Traders apparently found some sunshine in the most recent news about last week’s top-performing state-based stock.
Syntroleum Corp., a Tulsa firm that makes synthetic fuels, is due to be purchased. The company buying Syntroleum’s assets, Renewable Energy Group, last week said it also plans to buy Tyson Foods’ 50 percent stake in Dynamic Fuels LLC, a biofuels plant in Lousiana that was created in a joint venture between Tyson and Syntroleum.
In other words, Renewable Energy Group will end up with the entire plant barring some unforeseen circumstance.
That delivered a boost to Syntroleum shares, which gained 15.6 percent last week to close at $3.79.
That’s pretty high cotton for SYNM shares, which have topped $4 a share for only a few days this calendar year.
This week’s beagle apparently reached the end of its leash.
Traders on Thursday yanked the chain on shares of PostRock Energy Corp., which had traded in a narrow range for weeks.
Stock of the Oklahoma City oil and gas company got jerked back 10.7 percent last week to close Friday at $1.34 after peaking above $1.50 a week earlier.
Trading in PSTR was typically light for much of last week, except Thursday when more than 100,000 shares were bought and sold — about five times the average daily volume. On that day, the stock dipped as low as $1.22 before closing at $1.36.
This modestly priced pup likely will retreat back under the porch for a while, but long-term shareholders are still anticipating a dash for the fence.
Eagle & Beagle is a weekly look at the state’s high-performing (eagle) and low-performing (beagle) stocks by Business Editor Don Mecoy.