NXT Energy Solutions (TSE:SFD) Hits New 52-Week High Following Insider Buying Activity

NXT Energy Solutions Inc. (TSE:SFD)’s share price reached a new 52-week high during mid-day trading on Friday following insider buying activity. The company traded as high as C$0.63 and last traded at C$0.63, with a volume of 31200 shares changing hands. The stock had previously closed at C$0.54.

Specifically, Director Jeffrey Tilson bought 335,000 shares of NXT Energy Solutions stock in a transaction on Thursday, May 15th. The shares were bought at an average cost of C$0.55 per share, with a total value of C$182,910.00. Also, Director Jeffrey Tilson purchased 162,000 shares of NXT Energy Solutions stock in a transaction dated Tuesday, May 13th. The stock was bought at an average cost of C$0.26 per share, for a total transaction of C$41,310.00.

NXT Energy Solutions Stock Up 16.7%

The business’s 50 day moving average price is C$0.28 and its 200-day moving average price is C$0.23. The firm has a market capitalization of C$49.88 million, a PE ratio of -7.36 and a beta of 1.48. The company has a debt-to-equity ratio of 438.95, a quick ratio of 0.35 and a current ratio of 0.28.

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.