Spectral Medical (TSE:EDT) Stock Price Crosses Above 50-Day Moving Average - Here's What Happened

Key Points

• Spectral Medical Inc. shares have recently crossed above the 50-day moving average, signaling a potential bullish trend, with the last traded price at C$1.48.
• The company's market cap is C$416.25 million and it reported a PE ratio of -21.14, indicating financial challenges.
• Spectral Medical focuses on the development of treatments for septic shock, utilizing its endotoxin activity assay (EAA) and toraymyxin therapeutic.

Spectral Medical Inc. (TSE:EDT - Get Free Report) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$0.92 and traded as high as C$1.50. Spectral Medical shares last traded at C$1.48, with a volume of 390,549 shares changing hands.

Spectral Medical Price Performance

The stock's 50-day moving average price is C$0.94 and its 200 day moving average price is C$0.83. The firm has a market capitalization of C$425.87 million, a price-to-earnings ratio of -21.29 and a beta of -0.18. The company has a quick ratio of 0.45, a current ratio of 0.61 and a debt-to-equity ratio of 26.03.

About Spectral Medical

Spectral Medical Inc is focused on the development and commercialization of a treatment for septic shock utilizing its endotoxin activity assay (EAA) diagnostic and the toraymyxin therapeutic. The company also manufactures and sells proprietary reagents. The product line of the company consists of proprietary biochemical, EAA, and instrumentation.