Western Energy Services (TSE:WRG) Stock Price Crosses Above Fifty Day Moving Average – Should You Sell?

Western Energy Services Corp. (TSE:WRG)’s share price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$2.09 and traded as high as C$2.14. Western Energy Services shares last traded at C$2.13, with a volume of 300 shares changing hands.

Western Energy Services Price Performance

The stock has a market capitalization of C$72.09 million, a price-to-earnings ratio of -11.21, a P/E/G ratio of 0.09 and a beta of 0.41. The company’s 50-day simple moving average is C$2.09 and its 200-day simple moving average is C$2.11. The company has a debt-to-equity ratio of 37.49, a current ratio of 1.82 and a quick ratio of 1.46.

Western Energy Services (TSE:WRG) last posted its earnings results on Tuesday, October 21st. The company reported C($0.07) EPS for the quarter. The firm had revenue of C$50.04 million during the quarter. Western Energy Services had a negative net margin of 3.45% and a negative return on equity of 2.40%. Research analysts forecast that Western Energy Services Corp. will post 0.1499094 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Sime Armoyan acquired 12,400 shares of the stock in a transaction on Tuesday, October 21st. The shares were purchased at an average price of C$2.03 per share, for a total transaction of C$25,172.00. Following the transaction, the insider directly owned 6,920,256 shares of the company’s stock, valued at approximately C$14,048,119.68. This represents a 0.18% increase in their ownership of the stock. 32.65% of the stock is owned by insiders.

Western Energy Services Company Profile

Western Energy Services Corp operates as an oilfield service industry in Canada and the United States of America. The company functions its drilling services through two segments namely, Contract drilling and Production services. Its contract drilling segment is involved in drilling rigs with ancillary equipment as well as provides such services to crude oil and natural gas exploration and production companies.