EcoSynthetix (TSE:ECO) Reaches New 1-Year Low - Here's Why

Key Points

• EcoSynthetix shares fell 9% to C$1.60 during Friday trading, reaching a new 52-week low of C$1.66 and trading well below its 50-day and 200-day moving averages.
• The company reported a quarterly loss of C$0.01 per share, C$6.45 million in revenue, a negative net margin of 4.72%, and negative return on equity of 2.47%.
• Insider Lions Investment Ltd. sold 200,000 shares for approximately C$330,000, reducing its stake by 2.79%; company insiders still own 14.45% of EcoSynthetix.

EcoSynthetix Inc. (TSE:ECO - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Friday. The stock traded as low as C$1.66 and last traded at C$1.60, with a volume of 156,410 shares. The stock had previously closed at C$1.67.

EcoSynthetix Stock Down 9.0%

The firm has a 50-day moving average price of C$2.06 and a two-hundred day moving average price of C$2.71. The company has a debt-to-equity ratio of 5.06, a quick ratio of 12.67 and a current ratio of 23.15. The firm has a market cap of C$89.35 million, a price-to-earnings ratio of -76.00 and a beta of 0.87.

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

Insider Buying and Selling

In other EcoSynthetix news, insider Lions Investment Ltd sold 200,000 shares of the business's stock in a transaction that occurred on 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 owned 6,960,151 shares in the company, valued at approximately C$11,484,249.15. The trade was a 2.79% decrease in their ownership of the stock. 14.45% of the stock is currently owned by company insiders.

EcoSynthetix Company Profile

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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