Canacol Energy (OTCMKTS:CNNEF) Share Price Passes Below Fifty Day Moving Average – Here’s Why

Canacol Energy Ltd (OTCMKTS:CNNEF) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $0.57 and traded as low as $0.0150. Canacol Energy shares last traded at $0.06, with a volume of 25,873 shares trading hands.

Canacol Energy Trading Down 14.3%

The firm has a market capitalization of $2.05 million, a price-to-earnings ratio of 0.05 and a beta of 1.01. The company has a fifty day moving average price of $0.57 and a two-hundred day moving average price of $1.21.

Canacol Energy (OTCMKTS:CNNEF) last posted its quarterly earnings results on Monday, November 17th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.06). The company had revenue of $69.49 million during the quarter, compared to analysts’ expectations of $77.92 million.

About Canacol Energy

Canacol Energy Ltd is an independent upstream company specializing in the exploration, development and production of natural gas. Headquartered in Calgary, the company’s principal operations are located in Colombia’s Llanos and Middle Magdalena basins. Canacol holds interests in key gas-producing assets such as the Caricare and Tisquirama hubs, with reserves tied into midstream infrastructure that serves domestic power generation, industrial users and residential markets.

Since its founding in 1995, Canacol has pursued growth through farm-in agreements, strategic asset acquisitions and focused appraisal drilling.