NEW YORK (TheStreet) -- Miller Energy (MILL) experienced a stark rise in trading Monday closing up 11.4% to $5.79. This rise was followed a massive drop off on Friday where the stock fell 7.31%.
The reason for the rally was not immediately clear. The entire energy sector was up 0.2% today.
Earlier this month, Miller Energy recently added two new members to its board and consolidated the number of people on the board from ten to seven.
"We are excited to welcome Bob [G. Gower, Chairman of Ensysce Biosciences, Inc.] and Joe[T. Leary, Chief Financial Officer of Tarpon Operating & Development], two seasoned executives with many decades of business and senior management experience, to our Board of Directors," said Deloy Miller, Chairman of the Board of Directors. "During their distinguished careers, both Bob and Joe have worked at and served on the boards of companies across multiple industries, including financial services, energy and oil and gas exploration."
TheStreet Ratings team rates MILLER ENERGY RESOURCES INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate MILLER ENERGY RESOURCES INC (MILL) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and increase in net income. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and feeble growth in the company's earnings per share."