Gear Energy (TSE:GXE) Hits New 1-Year Low at $0.41

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Gear Energy Ltd (TSE:GXE)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as C$0.41 and last traded at C$0.41, with a volume of 145100 shares changing hands. The stock had previously closed at C$0.43.

A number of equities research analysts recently issued reports on GXE shares. Cormark boosted their target price on shares of Gear Energy from C$0.90 to C$1.15 in a report on Tuesday, April 23rd. GMP Securities lowered their target price on shares of Gear Energy from C$0.95 to C$0.70 in a report on Friday, June 28th. Finally, National Bank Financial lowered their target price on shares of Gear Energy from C$1.00 to C$0.95 and set an “outperform” rating for the company in a report on Thursday, August 8th.

The business’s fifty day moving average is C$0.50 and its 200-day moving average is C$0.61. The stock has a market capitalization of $92.00 million and a PE ratio of 10.34. The company has a quick ratio of 0.70, a current ratio of 1.38 and a debt-to-equity ratio of 42.08.

In other Gear Energy news, Director Don Gray purchased 107,000 shares of Gear Energy stock in a transaction on Wednesday, May 29th. The shares were purchased at an average cost of C$0.61 per share, with a total value of C$65,270.00. Following the completion of the transaction, the director now directly owns 4,650,234 shares in the company, valued at approximately C$2,836,642.74. Over the last ninety days, insiders have acquired 136,356 shares of company stock worth $80,246.

Gear Energy Company Profile (TSE:GXE)

Gear Energy Ltd. acquires, develops, and holds interests in petroleum and natural gas properties and assets in Canada. Its oil-focused operations are located in three core areas, including Lloydminster heavy oil, Central Alberta light/medium oil, and Southeast Saskatchewan light oil. The company is headquartered in Calgary, Canada.

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