Benzinga | Nov 12, 2020 11:51AM EST

Why US Energy's Stock Is Trading Lower Today

US Energy (NASDAQ:USEG) shares are trading lower on Thursday after the company announced the pricing of its $3 million public offering at $3 per share.

US Energy is an independent energy company. It is focused on the acquisition and development of oil and natural gas producing properties in the continental United States. It has business activities in South Texas and the Williston Basin in North Dakota. The company generates revenue from its interest in the sales of oil and natural gas production.

US Energy shares traded down 19.20% at $3.24 on Thursday during the time of publication. The stock has a 52-week high of $18.57 and a 52-week low of $2.44.