NXT Energy Solutions (TSE:SFD) Stock Price Up 46.5% After Insider Buying Activity

NXT Energy Solutions Inc. (TSE:SFD)’s stock price rose 46.5% during mid-day trading on Thursday following insider buying activity. The stock traded as high as C$0.58 and last traded at C$0.52. Approximately 265,050 shares changed hands during trading, an increase of 650% from the average daily volume of 35,349 shares. The stock had previously closed at C$0.36.

Specifically, Director Jeffrey Tilson bought 335,000 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were bought at an average cost of C$0.55 per share, for a total transaction of C$182,910.00. Also, Director Jeffrey Tilson bought 162,000 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were acquired at an average price of C$0.26 per share, for a total transaction of C$41,310.00.

NXT Energy Solutions Trading Up 52.1%

The company has a debt-to-equity ratio of 438.95, a quick ratio of 0.35 and a current ratio of 0.28. The company has a market capitalization of C$42.75 million, a price-to-earnings ratio of -6.31 and a beta of 1.48. The business’s 50-day simple moving average is C$0.27 and its 200-day simple moving average is C$0.22.

NXT Energy Solutions Company Profile

NXT Energy Solutions Inc is a Canadian company which offers geophysical service to the upstream oil and gas industry using its gravity-based Stress Field Detection (SFD) remote-sensing survey system. The SFD is an airborne survey system that is used in the oil and natural gas exploration industry to help in identifying areas with hydrocarbon reservoir potential.