New Zealand Energy (CVE:NZ) Stock Price Passes Above 200-Day Moving Average – Here’s Why

New Zealand Energy Corp. (CVE:NZ) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$0.27 and traded as high as C$0.33. New Zealand Energy shares last traded at C$0.33, with a volume of 4,818 shares.

New Zealand Energy Trading Up 15.8%

The business has a 50-day moving average of C$0.24 and a 200-day moving average of C$0.27. The stock has a market capitalization of C$12.66 million, a price-to-earnings ratio of -0.72 and a beta of 4.05. The company has a debt-to-equity ratio of 41.83, a quick ratio of 0.45 and a current ratio of 3.36.

New Zealand Energy Company Profile

New Zealand Energy Corp., together with its subsidiaries, engages in the exploration and production of oil and natural gas in New Zealand. It holds interests in three petroleum mining licenses, one petroleum mining permit, and one petroleum exploration permit. The company has interests in TWN Petroleum Mining Licenses comprising Waihapa/Ngaere, and Tariki; Copper Moki petroleum mining permit; and Eltham Petroleum exploration permit. It also operates midstream assets. The company was founded in 2010 and is based in New Plymouth, New Zealand.