Orbit Garant Drilling (TSE:OGD) Share Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Orbit Garant Drilling's share price has surpassed its 200-day moving average, reaching a high of C$1.71 before closing at C$1.57.
• The company's market cap stands at C$59.27 million, with a PE ratio of 7.85, indicating potential value in the stock.
• Insider Sylvain Laroche sold 25,000 shares for C$1.60 each, decreasing their ownership by 10.52%, while insiders collectively own 24.36% of the company.

Shares of Orbit Garant Drilling Inc. (TSE:OGD - ) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$1.55 and traded as high as C$1.71. Orbit Garant Drilling shares last traded at C$1.57, with a volume of 113,433 shares traded.

Orbit Garant Drilling Stock Performance

The company has a quick ratio of 1.01, a current ratio of 2.58 and a debt-to-equity ratio of 54.62. The business has a 50 day simple moving average of C$1.66 and a two-hundred day simple moving average of C$1.55. The firm has a market cap of C$59.27 million, a PE ratio of 7.85, a price-to-earnings-growth ratio of 0.65 and a beta of 0.46.

Insiders Place Their Bets

In other Orbit Garant Drilling news, insider Sylvain Laroche sold 25,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of C$1.60, for a total value of C$40,000.00. Following the sale, the insider owned 212,571 shares in the company, valued at C$340,113.60. This trade represents a 10.52% decrease in their ownership of the stock. 24.36% of the stock is currently owned by insiders.

Orbit Garant Drilling Company Profile

Orbit Garant Drilling Inc is a Canadian based drilling company providing services to mining companies through all stages of exploration, development, and production. The company operates a surface and underground diamond drilling business. The firm also manufactures conventional drill rigs while also manufacturing and providing other support equipment such as water recirculation systems, heat recovery systems, and fuel-efficient systems.

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