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Evolve Transition Infrastructure Inc. (NASDAQ: SNMP) stock rises in the pre-market trading. What is happening?

Evolve Transition Infrastructure Inc. (NASDAQ: SNMP) stock soared by 1. https://www.keyexteriors.com/ 32% at last close while the SNMP stock price kept rising by 10% in the pre-market trading session followed by no recent update from SNMP or any other source. Evolve Transformation Infrastructure LP is a publicly-traded limited partnership focusing on the purchase, growth, and management of vital infrastructure for the transition of energy supplies to lower-carbon sources. In South Texas, they own natural gas gathering networks, pipelines, and refining plants, and you intend to look for energy change infrastructure opportunities.

Recent Past Development

SNMP released its full year 2020 financial results on March 27, 2021 which are as follows:

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SNMP’s net income for 2020 was $57.0 million, with $45.5 million coming from midstream operations. Production activities accounted for the remainder of the SNMP’s full-year 2020 earnings. For the full year 2020, the operations of Carnero G&P LLC, the SNMP’s midstream joint venture (the “Carnero JV”), led a revenue of around $4.5 million. In addition, the Carnero JV paid SNMP a net cash distribution of $16.2 million for full-year 2020 operations. Finally, for the fiscal year 2020, SNMP announced a net loss of $118.8 million.

Also,

As of December 31, 2020, SNMP had about $1.7 million in cash and cash equivalents. SNMP had $111.0 million in debt outstanding under its credit agreement as of December 31, 2020, and it had decreased its debt ratio by $39.0 million, or 26%, since December 31, 2019. The funding base for the SNMP’s midstream properties has been set at $113.7 million, as previously reported, based on the lenders’ quarterly analysis of the borrowing base.

As of March 15, 2021, SNMP had 54,533,593 common units issued and outstanding, and as of March 26, 2021, it had 56,185,378 common units issued and outstanding.