Comet Industries (CVE:CMU) Stock Price Down 12.7% – Time to Sell?

Shares of Comet Industries Ltd. (CVE:CMU) were down 12.7% during trading on Monday . The company traded as low as C$3.45 and last traded at C$3.45. Approximately 9,000 shares were traded during mid-day trading, an increase of 5% from the average daily volume of 8,544 shares. The stock had previously closed at C$3.95.

Comet Industries Trading Down 12.7%

The company has a market cap of C$16.54 million, a PE ratio of -34.50 and a beta of -0.44. The firm’s 50-day simple moving average is C$4.00 and its two-hundred day simple moving average is C$4.03.

Insider Activity at Comet Industries

In related news, Director Jesus Alfonso acquired 10,000 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were purchased at an average cost of C$4.00 per share, with a total value of C$40,000.00. Following the completion of the acquisition, the director directly owned 27,000 shares of the company’s stock, valued at C$108,000. This represents a 58.82% increase in their ownership of the stock. Insiders have acquired 32,000 shares of company stock worth $133,150 in the last three months. Insiders own 43.77% of the company’s stock.

About Comet Industries

Comet Industries Ltd. holds and manages real estate properties in the British Columbia. It also acquires and develops mineral properties. The company holds a 40% working interest in the Iron Mask property located in southwest Kamloops, British Columbia. It also owns a 10% carried net profit interest in a contiguous block of mineral properties; and the surface land titles comprising the crown grants located in Kamloops, British Columbia.