East West Petroleum (CVE:EW) Stock Price Down 10.6% – Here’s What Happened

East West Petroleum Corp. (CVE:EW)’s stock price dropped 10.6% during trading on Friday . The company traded as low as C$0.21 and last traded at C$0.21. Approximately 5,741 shares changed hands during trading, a decline of 61% from the average daily volume of 14,616 shares. The stock had previously closed at C$0.24.

East West Petroleum Stock Performance

The business has a fifty day simple moving average of C$0.23 and a 200 day simple moving average of C$0.11. The stock has a market cap of C$1.90 million, a price-to-earnings ratio of -2.10 and a beta of 0.80.

Insider Buying and Selling

In related news, Director Kevin Haney acquired 100,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was purchased at an average price of C$0.50 per share, for a total transaction of C$50,000.00. Following the transaction, the director owned 1,400,000 shares in the company, valued at C$700,000. This trade represents a 7.69% increase in their position. Corporate insiders own 2.47% of the company’s stock.

About East West Petroleum

East West Petroleum Corp., a junior oil and gas company, engages in the exploration, development, and production of oil and gas properties in New Zealand and Romania. It holds interest in a 30% interest in the Cheal-E site mining permit in the Taranaki Basin, New Zealand; and four exploration blocks covering an area of 1,007,500 acres in Pannonian Basin of western Romania.