Comet Industries (CVE:CMU) Trading Up 4.7% – Time to Buy?

Comet Industries Ltd. (CVE:CMU) rose 4.7% on Wednesday . The stock traded as high as C$4.50 and last traded at C$4.50. Approximately 100 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 7,815 shares. The stock had previously closed at C$4.30.

Comet Industries Stock Up 4.7%

The firm has a market cap of C$21.58 million, a PE ratio of -30.00 and a beta of -0.53. The stock has a 50 day moving average price of C$4.16 and a two-hundred day moving average price of C$4.12.

Insiders Place Their Bets

In related news, Director Michael Santoro bought 10,000 shares of the company’s stock in a transaction on Friday, September 26th. The shares were bought at an average price of C$3.70 per share, with a total value of C$37,000.00. Following the transaction, the director owned 75,000 shares in the company, valued at approximately C$277,500. This trade represents a 15.38% increase in their ownership of the stock. Corporate insiders own 43.77% of the company’s stock.

Comet Industries Company Profile

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.