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

Key Points

• Canacol Energy Ltd's stock price has recently crossed above its 50-day moving average of $1.64, trading as high as $1.79 before closing at $1.78 with a volume of 21,700 shares.
• The company reported earnings of $0.41 per share for the last quarter, missing analysts' estimates of $0.90, and had revenue of $64.81 million, below the expected $77 million.
• Canacol Energy, based in Calgary, Canada, focuses on the exploration and development of natural gas in Colombia.

Canacol Energy Ltd (OTCMKTS:CNNEF - Get Free Report)'s share price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $1.64 and traded as high as $1.79. Canacol Energy shares last traded at $1.78, with a volume of 21,700 shares traded.

Canacol Energy Price Performance

The firm has a market capitalization of $60.70 million, a PE ratio of 2.00 and a beta of 0.98. The firm's fifty day moving average is $1.64 and its two-hundred day moving average is $1.95.

Canacol Energy (OTCMKTS:CNNEF - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.90 by ($0.49). The business 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.

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