Vår Energi AS (OTCMKTS:VARRY) Shares Down 6.9% – Should You Sell?

Vår Energi AS (OTCMKTS:VARRY) shares dropped 6.9% during mid-day trading on Wednesday . The stock traded as low as $9.50 and last traded at $9.50. Approximately 1,816 shares changed hands during trading, a decline of 94% from the average daily volume of 29,803 shares. The stock had previously closed at $10.20.

Vår Energi AS Trading Down 6.9%

The firm’s 50-day moving average price is $8.03 and its 200 day moving average price is $7.10.

Vår Energi AS Company Profile

Vår Energi AS is a Norway-based independent oil and gas exploration and production company listed on the OTC Markets (OTCMKTS: VARRY). Established in January 2018 through the merger of Eni Norge AS and Point Resources ASA, Vår Energi has rapidly become one of the largest operators on the Norwegian Continental Shelf. The company focuses on discovering, developing and producing hydrocarbons, with a portfolio that spans several prolific offshore fields.

The company’s operations are concentrated in the North Sea, the Norwegian Sea and the Barents Sea, where it holds interests in both operated and non-operated assets.