Orbit Garant Drilling (TSE:OGD) Share Price Passes Above 200 Day Moving Average - What's Next?

Key Points

• Orbit Garant Drilling shares recently surged above their 200-day moving average, reaching a high of C$1.76 before settling at C$1.72 during trading.
• Despite a 10.52% decrease in insider Sylvain Laroche's position after selling 25,000 shares at C$1.60 each, corporate insiders still own 24.36% of the company's stock.
• The company, with a market capitalization of C$64.64 million, provides drilling services and equipment manufacturing for mining companies across all stages of exploration and production.

Orbit Garant Drilling Inc. (TSE:OGD - ) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$1.51 and traded as high as C$1.76. Orbit Garant Drilling shares last traded at C$1.72, with a volume of 40,694 shares.

Orbit Garant Drilling Price Performance

The company has a current ratio of 2.58, a quick ratio of 1.01 and a debt-to-equity ratio of 54.62. The business has a fifty day simple moving average of C$1.63 and a 200 day simple moving average of C$1.51. The stock has a market capitalization of C$64.64 million, a P/E ratio of 10.75, a price-to-earnings-growth ratio of 0.65 and a beta of 0.66.

Insider Buying and Selling

In other Orbit Garant Drilling news, insider Sylvain Laroche sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of C$1.60, for a total transaction of C$40,000.00. Following the completion of the sale, the insider directly owned 212,571 shares of the company's stock, valued at approximately C$340,113.60. The trade was a 10.52% decrease in their position. Corporate insiders own 24.36% of the company's stock.

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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