Orbit Garant Drilling (TSE:OGD) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• Orbit Garant Drilling's stock price surpassed its 200-day moving average, trading as high as C$1.61 before closing at C$1.57.
• The company's financial ratios indicate a debt-to-equity ratio of 54.62 and a current ratio of 2.58, revealing a relatively stable financial position.
• Insider activity was noted as a senior officer sold 22,000 shares at an average price of C$1.53, indicating potential confidence changes within the company's leadership.

Orbit Garant Drilling Inc. (TSE:OGD - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$1.42 and traded as high as C$1.61. Orbit Garant Drilling shares last traded at C$1.57, with a volume of 82,797 shares trading hands.

Orbit Garant Drilling Price Performance

The firm's fifty day moving average price is C$1.58 and its 200 day moving average price is C$1.43. The firm has a market capitalization of C$59.92 million, a PE ratio of 10.00, a P/E/G ratio of 0.65 and a beta of 0.58. The company has a current ratio of 2.58, a quick ratio of 1.01 and a debt-to-equity ratio of 54.62.

Insider Activity at Orbit Garant Drilling

In other news, Senior Officer Daniel Maheu sold 22,000 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of C$1.53, for a total value of C$33,660.00. 24.36% of the stock is owned by company 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.