Benzinga | Oct 7, 2021 09:27AM EDT

Why Camber Energy Shares Are Rising

Camber Energy, Inc. (NYSE:CEI) shares are trading significantly higher as the stock rebounds from recent weakness amid a short report on the company from Kerrisdale Capital.

The company's stock dropped approximately 70% over the past 5 trading sessions from around $3.95 to around $1.17.

Camber Energy yesterday issued financial statements of Viking and announced it is not considering a reverse stock split.

The company reported unaudited pro forma condensed combined revenues of $19.79 million for the six month period ending September 30, 2020.

Camber Energy, Inc., an independent oil and natural gas company, engages in the acquisition, development, and sale of crude oil, natural gas, and natural gas liquids in the Cline shale and upper Wolfberry shale in Glasscock County, Texas.

Camber Energy's stock was trading about 38% higher at $1.26 per share on Thursday at the time of publication. The stock has a high of $4.85 and a low of $0.33 over a 52-week period.