Highwood Asset Management (CVE:HAM) Trading Down 2% - Should You Sell?

Key Points

• Highwood Asset Management Ltd. shares dropped 2% to C$4.85, with trading volume plummeting to 1,101 shares, a decrease of 80% from the average.
• Analysts at ATB Capital reduced their price target for the company from C$8.00 to C$7.25, indicating a bearish outlook.
• The company specializes in the acquisition, exploration, development, and production of oil and gas reserves in the Western Canadian Sedimentary basin.

Shares of Highwood Asset Management Ltd. (CVE:HAM - Get Free Report) traded down 2% during trading on Wednesday . The company traded as low as C$4.83 and last traded at C$4.85. 1,101 shares were traded during mid-day trading, a decline of 80% from the average session volume of 5,480 shares. The stock had previously closed at C$4.95.

Analysts Set New Price Targets

Separately, ATB Capital cut their price objective on shares of Highwood Asset Management from C$8.00 to C$7.25 in a research report on Friday, July 4th.

Highwood Asset Management Price Performance

The company's 50-day simple moving average is C$5.12 and its 200-day simple moving average is C$5.44. The stock has a market capitalization of C$69.93 million, a P/E ratio of 2.17 and a beta of -2.30.

Highwood Asset Management Company Profile

Highwood Asset Management Ltd., together with its subsidiary, engages in the acquisition, exploration, development, and production of oil and gas reserves in the Western Canadian Sedimentary basin. The company operates through Metallic Minerals, Midstream Operations, and Upstream Operations segments.

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