Birchcliff Energy (BIREF) Stock Hits New High: Time Buy Now?

In recent times, many energy stocks have come into focus among investors and one of the energy stocks to have made a strong move last week was that of Birchcliff Energy Ltd (OTCMKTS:BIREF).

There was no news about the company last week but on Friday, the Birchcliff stock jumped by 9% and ended the week with gains of as much as 21%. In this sort of situation, it could be a good idea for investors to possibly look at some developments from the recent past in order to make up their minds. Back on June 16 the company released is ESG report for the year ended on December 31, 2020.

The above mentioned report provided the details of Birchcliff Energy’s work and performance on the environmental, social and governance (ESG) front.

The company noted that it is focussed retaining its position as one of the leaders when it comes to ESG. The company announced that last year it continued to come up with innovative solutions towards the task of making its emissions performance better. The company stated that these steps are important so that Birchcliff can protect the environment and the communities at the places in which it operates.

Market Reaction:

On Friday, BIREF stock went up 9.12% to $3.95 with more than 3.29 million shares, compared to  its average volume of 127k shares. The stock has moved within a range of  $3.6600 – 3.9600 after opening the trade at $3.69 Over the past 52-week, the stock has been trading within a range of $0.7900 – 3.9600. Moreover the made a new high of $3.96 in the previous trading session.

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