Mega Uranium (TSE:MGA) Stock Price Crosses Above Fifty Day Moving Average - Here's Why

Key Points

• Mega Uranium's share price recently crossed above its 50-day moving average, reaching a high of C$0.37 before trading at C$0.36.
• The company has a significant debt-to-equity ratio of 8.53 and a market cap of C$135.49 million, indicating financial leverage in its operations.
• Director Larry Goldberg sold 100,000 shares at an average price of C$0.35, representing a 50% decrease in his position, raising concerns about insider confidence.

Mega Uranium Ltd. (TSE:MGA - Get Free Report) shares passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$0.29 and traded as high as C$0.37. Mega Uranium shares last traded at C$0.36, with a volume of 382,241 shares changing hands.

Mega Uranium Trading Up 6.9%

The company has a quick ratio of 11.36, a current ratio of 1.67 and a debt-to-equity ratio of 8.53. The stock has a market capitalization of C$144.90 million, a P/E ratio of -9.63 and a beta of 1.41. The firm's 50 day simple moving average is C$0.30 and its two-hundred day simple moving average is C$0.28.

Insider Activity

In other news, Director Larry Goldberg sold 100,000 shares of Mega Uranium stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of C$0.35, for a total transaction of C$34,500.00. Following the completion of the transaction, the director directly owned 100,000 shares in the company, valued at C$34,500. This trade represents a 50.00% decrease in their ownership of the stock. 3.22% of the stock is owned by corporate insiders.

About Mega Uranium

Mega Uranium Ltd is a Canada based exploration stage mineral resources company. The company is engaged in the acquisition and exploration of uranium prospective properties. Its properties include Ben Lomond, Georgetown, and Kintyre in Australia. Geographically, it operates in Canada and Australia.