McCoy Global (TSE:MCB) Stock Passes Below 200-Day Moving Average - What's Next?

Key Points

• McCoy Global Inc. shares fell below their 200-day moving average of C$3.56, trading as low as C$3.35 before closing at C$3.40.
• Analysts have set a target price of C$5.50 for McCoy Global, maintaining a "buy" rating, which reflects positive sentiment around the stock.
• The company, which provides equipment and technologies for the energy industry, has shown strong financial ratios, including a current ratio of 3.07 and a debt-to-equity ratio of 6.05.

McCoy Global Inc. (TSE:MCB - Get Free Report)'s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$3.56 and traded as low as C$3.35. McCoy Global shares last traded at C$3.40, with a volume of 67,267 shares traded.

Analysts Set New Price Targets

Separately, Beacon Securities set a C$5.50 price objective on shares of McCoy Global and gave the stock a "buy" rating in a research report on Monday, August 18th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of C$5.50.

McCoy Global Price Performance

The company's 50 day moving average is C$3.44 and its 200 day moving average is C$3.56. The company has a current ratio of 3.07, a quick ratio of 1.26 and a debt-to-equity ratio of 6.05. The stock has a market capitalization of C$91.01 million, a price-to-earnings ratio of 13.60 and a beta of 0.36.

McCoy Global Company Profile

McCoy Global Inc is a provider of equipment and technologies to support tubular running operations, enhance wellbore integrity and assist with collecting critical data for the global energy industry. It is engaged in the design, production and distribution of capital equipment to support tubular running operations, enhance wellbore integrity and to support capital equipment sales through aftermarket products and services such as technical support, consumables and replacement parts.

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