StockNews.com Initiates Coverage on Evolve Transition Infrastructure (NYSE:SNMP)

Equities research analysts at StockNews.com initiated coverage on shares of Evolve Transition Infrastructure (NYSE:SNMP) in a report issued on Tuesday. The brokerage set a “hold” rating on the stock.

Evolve Transition Infrastructure Trading Down 3.7 %

NYSE SNMP opened at $1.57 on Tuesday. Evolve Transition Infrastructure has a 1-year low of $0.14 and a 1-year high of $297.00. The company has a 50 day simple moving average of $1.88. The firm has a market capitalization of $13.27 million, a P/E ratio of -0.20 and a beta of 1.61.

Evolve Transition Infrastructure (NYSE:SNMP) last released its quarterly earnings results on Friday, August 11th. The company reported ($0.04) earnings per share for the quarter. The firm had revenue of $6.04 million for the quarter.

Institutional Investors Weigh In On Evolve Transition Infrastructure

A hedge fund recently bought a new stake in Evolve Transition Infrastructure stock. Invesco Ltd. acquired a new stake in Evolve Transition Infrastructure LP (NYSE:SNMP) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 58,252 shares of the company’s stock, valued at approximately $86,000. Invesco Ltd. owned about 0.69% of Evolve Transition Infrastructure at the end of the most recent reporting period.

About Evolve Transition Infrastructure

Evolve Transition Infrastructure LP, together with its subsidiaries, engages in the acquisition, development, ownership, and operation of infrastructure for the transition of energy supply to lower carbon sources in the United States. The company engages in gathering, processing, and transporting natural gas, NGLs, and crude oil.