Tree Island Steel (TSE:TSL) Share Price Passes Above 50 Day Moving Average – Should You Sell?

Tree Island Steel Ltd. (TSE:TSL)’s stock price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$2.81 and traded as high as C$2.95. Tree Island Steel shares last traded at C$2.83, with a volume of 5,219 shares traded.

Tree Island Steel Stock Down 3.4%

The company’s 50-day moving average price is C$2.81 and its 200 day moving average price is C$2.65. The company has a debt-to-equity ratio of 21.28, a quick ratio of 1.75 and a current ratio of 5.14. The stock has a market cap of C$73.32 million, a PE ratio of -13.48 and a beta of 0.19.

Tree Island Steel (TSE:TSL) last posted its quarterly earnings data on Thursday, November 13th. The company reported C($0.08) earnings per share (EPS) for the quarter. Tree Island Steel had a negative return on equity of 2.01% and a negative net margin of 1.20%.The business had revenue of C$38.72 million during the quarter. As a group, analysts forecast that Tree Island Steel Ltd. will post 0.4054054 EPS for the current fiscal year.

About Tree Island Steel

Tree Island Steel Ltd operates in the steel business. It is engaged in the manufacturing and sale of steel wire and related products for a range of applications. It offers products such as bulk nails, stucco reinforcing products, concrete reinforcing mesh, fencing, and other fabricated wire products. The firm groups its products into the following: Industrial, Commercial, Agricultural, Construction, and Residential Construction. Key revenue is derived from the Industrial segment. The products are offered under Tree Island, Halsteel, K-Lath, True spec, Toughstrand, and Stucco-rite brands.