Pinetree Capital (TSE:PNP) Stock Crosses Below 50-Day Moving Average - Here's What Happened

Key Points

• Pinetree Capital Ltd. shares have crossed below their 50-day moving average during recent trading, with the stock hitting a low of C$15.25, below the average of C$17.75.
• Insiders, including L6 Holdings Inc., sold 28,200 shares of Pinetree Capital in the last 90 days, indicating potential concern or strategic repositioning, as insiders hold 43.35% of the company's stock.
• The company has a market capitalization of C$143.15 million and a price-to-earnings ratio of 7.56, suggesting relatively low valuations compared to its earnings.

Pinetree Capital Ltd. (TSE:PNP - Get Free Report)'s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$17.75 and traded as low as C$15.25. Pinetree Capital shares last traded at C$15.25, with a volume of 10,522 shares traded.

Pinetree Capital Price Performance

The stock has a market capitalization of C$147.19 million, a price-to-earnings ratio of 7.77 and a beta of 0.60. The stock has a 50 day moving average price of C$17.51 and a 200-day moving average price of C$15.97.

Insider Buying and Selling

In related news, insider L6 Holdings Inc. sold 14,900 shares of Pinetree Capital stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of C$23.47, for a total transaction of C$349,703.00. Insiders sold a total of 28,200 shares of company stock worth $623,319 in the last quarter. Company insiders own 43.35% of the company's stock.

About Pinetree Capital

Pinetree Capital Ltd is an investment and merchant banking company. It is engaged in the small-cap market with early-stage investments in resource and technology components. The company has a single reportable geographic segment, Canada. Pinetree's investment portfolio consists of investments, cash, cash equivalents, and cash due from brokers.