Emerald Bay Energy Inc. (CVE:EBY)’s stock price fell 50% during trading on Thursday . The stock traded as low as C$0.01 and last traded at C$0.01, 200,000 shares changed hands during mid-day trading. A decline of 69% from the average session volume of 646,158 shares. The stock had previously closed at C$0.01.
The company has a market capitalization of $3.54 million and a PE ratio of -0.83. The firm’s fifty day simple moving average is C$0.01 and its 200 day simple moving average is C$0.02.
In other Emerald Bay Energy news, Senior Officer Michael Rice purchased 4,940,000 shares of the stock in a transaction on Monday, July 29th. The shares were bought at an average cost of C$0.02 per share, with a total value of C$74,100.00. Following the completion of the acquisition, the insider now owns 8,495,500 shares in the company, valued at C$127,432.50. Over the last ninety days, insiders acquired 5,335,000 shares of company stock worth $79,025.
Emerald Bay Energy Inc operates as an energy company with oil producing properties in Southwest Texas, as well as non-operated oil and natural gas interests in Central Alberta, Canada. It owns 50% working interests in the Wooden Horse and Nash Creek projects in Guadeloupe, Texas. The company also owns and operates various working interests in the HugoCellR, Cotulla, and MarPat partnerships.
Further Reading: Stochastic Momentum Index (SMI)
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