Canacol Energy (OTCMKTS:CNNEF) Stock Crosses Above 50-Day Moving Average - Here's Why

Key Points

• Canacol Energy's share price has recently surpassed its 50-day moving average of $1.61, trading as high as $2.12 with a volume of 52,000 shares.
• The company's recent earnings report showed a significant miss, with earnings per share at $0.41, falling short of analysts' expectations of $0.90.
• Canacol Energy, headquartered in Calgary, Canada, focuses on the exploration and development of natural gas in Colombia.

Canacol Energy Ltd (OTCMKTS:CNNEF - Get Free Report)'s stock price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $1.61 and traded as high as $2.12. Canacol Energy shares last traded at $2.12, with a volume of 52,000 shares traded.

Canacol Energy Price Performance

The company's 50 day moving average price is $1.61 and its two-hundred day moving average price is $1.98. The stock has a market capitalization of $70.08 million, a PE ratio of 2.31 and a beta of 0.98.

Canacol Energy (OTCMKTS:CNNEF - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.49). The firm had revenue of $64.81 million for the quarter, compared to analysts' expectations of $77.00 million.

About Canacol Energy

Canacol Energy Ltd operates as an oil and gas company in Colombia. It engages in the exploration and development of natural gas. The company was formerly known as BrazAlta Resources Corp. and changed its name to Canacol Energy Ltd in February 2009. The company was incorporated in 1970 and is headquartered in Calgary, Canada.