NXT Energy Solutions (TSE:SFD) Sets New 12-Month High - Time to Buy?

Key Points

• NXT Energy Solutions Inc. (TSE:SFD) reached a new 52-week high of C$0.89 during trading on Tuesday, with a market capitalization of C$66.51 million.
• Insider activity has been notable, with Director Jeffrey Tilson purchasing 335,000 shares at an average price of C$0.55, contributing to a total of 522,000 shares bought by insiders in the last three months.
• The company uses its proprietary Stress Field Detection (SFD) system for geophysical services in the oil and gas industry, assisting in the identification of hydrocarbon reservoirs.

NXT Energy Solutions Inc. (TSE:SFD - ) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as C$0.89 and last traded at C$0.89, with a volume of 7700 shares trading hands. The stock had previously closed at C$0.89.

NXT Energy Solutions Trading Down 5.6%

The firm has a market capitalization of C$66.51 million, a price-to-earnings ratio of -9.82 and a beta of 1.48. The company has a debt-to-equity ratio of 438.95, a current ratio of 0.28 and a quick ratio of 0.35. The firm's 50-day simple moving average is C$0.62 and its 200 day simple moving average is C$0.39.

Insider Buying and Selling

In related news, Director Jeffrey Tilson purchased 335,000 shares of the stock in a transaction dated Thursday, May 15th. The stock was bought at an average cost of C$0.55 per share, for a total transaction of C$182,910.00. In the last three months, insiders have purchased 522,000 shares of company stock worth $240,205 and have sold 205,500 shares worth $112,185. 39.71% of the stock is currently owned by corporate insiders.

NXT Energy Solutions Company Profile

NXT Energy Solutions Inc is a Canadian company which offers geophysical service to the upstream oil and gas industry using its gravity-based Stress Field Detection (SFD) remote-sensing survey system. The SFD is an airborne survey system that is used in the oil and natural gas exploration industry to help in identifying areas with hydrocarbon reservoir potential.

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