EcoSynthetix (TSE:ECO) Hits New 1-Year Low - What's Next?

Key Points

• EcoSynthetix shares hit a new 52-week low of C$1.34, down 2.9% from the previous close, and remain well below their 50-day and 200-day moving averages.
• The company reported quarterly revenue of C$6.45 million and a loss of C$0.01 per share, alongside a negative net margin and return on equity. Analysts expect full-year earnings of C$0.18 per share.
• Insider Lions Investment Ltd. sold 200,000 shares for C$330,000, reducing its stake by 2.79%; insiders collectively own 14.45% of the company.

EcoSynthetix Inc. (TSE:ECO - Get Free Report) shares hit a new 52-week low on Thursday. The stock traded as low as C$1.34 and last traded at C$1.34, with a volume of 1,300 shares changing hands. The stock had previously closed at C$1.38.

EcoSynthetix Stock Down 2.9%

The company's 50 day moving average price is C$1.97 and its two-hundred day moving average price is C$2.97. The company has a current ratio of 23.15, a quick ratio of 12.67 and a debt-to-equity ratio of 5.06. The stock has a market cap of C$78.77 million, a P/E ratio of -67.00 and a beta of 0.87.

EcoSynthetix (TSE:ECO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported C($0.01) earnings per share (EPS) for the quarter. EcoSynthetix had a negative return on equity of 2.47% and a negative net margin of 4.72%. The business had revenue of C$6.45 million during the quarter. Equities analysts forecast that EcoSynthetix Inc. will post 0.18 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Lions Investment Ltd sold 200,000 shares of EcoSynthetix stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of C$1.65, for a total value of C$330,000.00. Following the completion of the sale, the insider directly owned 6,960,151 shares in the company, valued at C$11,484,249.15. The trade was a 2.79% decrease in their ownership of the stock. 14.45% of the stock is owned by company insiders.

About EcoSynthetix

EcoSynthetix offers a range of sustainable engineered biopolymers that allow customers to reduce their use of harmful materials, such as formaldehyde and styrene-based chemicals. The Company's flagship products, DuraBind¿, Surflock¿, Bioform¿ and EcoSphere®, are used to manufacture wood composites, personal care, paper, tissue and packaging products, and enable performance improvements, economic benefits and carbon footprint reduction. The Company is publicly traded on the Toronto Stock Exchange (T:ECO).

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