Sequoia Economic Infrastructure (LON:SEQI) Share Price Crosses Above 50-Day Moving Average - Here's Why

Key Points

• Sequoia Economic Infrastructure's share price surpassed its fifty-day moving average, trading at GBX 80.50 ($1.08) with a high of GBX 80.90 ($1.09).
• The company reported an earnings per share (EPS) of GBX 5.04 ($0.07) for the last quarter, despite a significant price-to-earnings ratio of -8,050.00.
• Insider Paul Le Page purchased 30,000 shares at an average price of GBX 81 ($1.09), indicating confidence from management in the company's stock.

Shares of Sequoia Economic Infrastructure Inc (LON:SEQI - Get Free Report) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of GBX 80.64 ($1.09) and traded as high as GBX 80.90 ($1.09). Sequoia Economic Infrastructure shares last traded at GBX 80.50 ($1.09), with a volume of 3,037,466 shares traded.

Sequoia Economic Infrastructure Price Performance

The company's 50 day simple moving average is GBX 80.65 and its 200 day simple moving average is GBX 78.11. The company has a market capitalization of £1.26 billion and a PE ratio of -8,000.00.

Sequoia Economic Infrastructure (LON:SEQI - Get Free Report) last announced its earnings results on Wednesday, June 25th. The company reported GBX 5.04 ($0.07) earnings per share (EPS) for the quarter.

Insider Activity at Sequoia Economic Infrastructure

In other news, insider Paul Le Page acquired 30,000 shares of the stock in a transaction on Thursday, July 3rd. The shares were purchased at an average cost of GBX 81 ($1.09) per share, for a total transaction of £24,300 ($32,806.80). Corporate insiders own 0.08% of the company's stock.

Sequoia Economic Infrastructure Company Profile

Sequoia Economic Infrastructure Income Fund Limited invests in a diversified portfolio of senior and subordinated economic infrastructure debt investments through its subsidiary Sequoia IDF Asset Holdings SA The Company operates through investment in senior and subordinated infrastructure debt instruments and related and/or similar assets segment.