Gear Energy Ltd. (TSE:GXE – Get Rating)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$1.18 and traded as low as C$1.06. Gear Energy shares last traded at C$1.07, with a volume of 2,994,364 shares trading hands.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on GXE shares. Stifel Firstegy reissued a “hold” rating on shares of Gear Energy in a report on Thursday, January 12th. Stifel Nicolaus set a C$1.15 price objective on Gear Energy and gave the stock a “hold” rating in a research note on Friday, January 13th. Finally, ATB Capital decreased their target price on Gear Energy from C$1.80 to C$1.60 in a report on Thursday, January 19th.
Gear Energy Stock Down 2.7 %
The company has a quick ratio of 0.56, a current ratio of 0.96 and a debt-to-equity ratio of 2.83. The company has a market capitalization of C$278.94 million, a price-to-earnings ratio of 3.82 and a beta of 4.13. The business’s 50-day moving average is C$1.08 and its 200-day moving average is C$1.18.
Gear Energy Dividend Announcement
Insider Buying and Selling
In other Gear Energy news, Senior Officer Bryan Dozzi sold 81,700 shares of the business’s stock in a transaction that occurred on Wednesday, December 28th. The stock was sold at an average price of C$1.10, for a total value of C$90,033.40. Following the completion of the transaction, the insider now directly owns 216,099 shares of the company’s stock, valued at C$238,141.10. In related news, Director Ingram Gillmore sold 144,700 shares of Gear Energy stock in a transaction dated Thursday, December 22nd. The stock was sold at an average price of C$1.04, for a total value of C$150,488.00. Following the completion of the transaction, the director now owns 1,850,091 shares in the company, valued at approximately C$1,924,094.64. Also, Senior Officer Bryan Dozzi sold 81,700 shares of the company’s stock in a transaction dated Wednesday, December 28th. The stock was sold at an average price of C$1.10, for a total value of C$90,033.40. Following the completion of the transaction, the insider now directly owns 216,099 shares of the company’s stock, valued at approximately C$238,141.10. Insiders have sold a total of 306,900 shares of company stock valued at $324,249 over the last ninety days. Company insiders own 6.81% of the company’s stock.
About Gear Energy
Gear Energy Ltd., an exploration and production company, acquires, develops, and holds interests in petroleum and natural gas properties and assets in Canada. Its properties include the Celtic/Paradise Hill property located approximately 40 kilometers northeast of Lloydminster Alberta; the Wildmere field situated approximately 200 kilometers southeast of Edmonton, Alberta; the Wilson Creek property located in Central Alberta; and the Tableland property situated southwest of Estevan in Southeast Saskatchewan.
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