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Cactus Completes Merger with HighRidge Resources

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Cactus Completes Merger with HighRidge Resources

The latest announcement is out from Cactus ( (WHD) ).

On February 28, 2023, Cactus, Inc. completed its merger with HighRidge Resources, Inc., acquiring the FlexSteel business, which has been integrated into Cactus Companies, LLC, a subsidiary of Cactus Inc. This strategic move is expected to strengthen Cactus’s market position and operational capabilities, particularly in the onshore equipment solutions sector, and enhance its financial performance with improved margins and cash flow generation.

More about Cactus

Cactus, Inc. operates in the oil and gas industry, focusing on designing, manufacturing, selling, and renting highly engineered products that enhance drilling, completion, and production efficiencies while improving safety. The company offers a range of products including wellhead systems, production trees, spoolable pipe, frac stacks, and completion equipment, with a strong emphasis on service, installation, and maintenance.

YTD Price Performance: -22.70%

Average Trading Volume: 619,844

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $3.58B

See more insights into WHD stock on TipRanks’ Stock Analysis page.

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Questions or Comments about the article? Write to editor@tipranks.com
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