Coelacanth Energy (CVE:CEI) Hits New 12-Month Low – Here’s Why

Coelacanth Energy Inc. (CVE:CEI) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as C$0.76 and last traded at C$0.76, with a volume of 195763 shares changing hands. The stock had previously closed at C$0.78.

Coelacanth Energy Stock Performance

The firm has a 50 day simple moving average of C$0.81 and a two-hundred day simple moving average of C$0.83. The stock has a market cap of C$487.92 million, a P/E ratio of -43.00 and a beta of 0.19.

Insider Activity at Coelacanth Energy

In other news, insider Gmt Capital Corp sold 1,393,500 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of C$0.86, for a total transaction of C$1,198,410.00. Following the transaction, the insider directly owned 70,759,335 shares of the company’s stock, valued at approximately C$60,853,028.10. This trade represents a 1.93% decrease in their ownership of the stock. Insiders sold 8,004,167 shares of company stock worth $6,885,819 over the last quarter. 31.60% of the stock is currently owned by company insiders.

Coelacanth Energy Company Profile

Coelacanth Energy Inc, an oil and natural gas company, engages in the acquisition, development, exploration, and production of oil and natural gas reserves in northeastern British Columbia, Canada. The company owns approximately 150 net sections of Montney acreage located in the Two Rivers area of northeastern British Columbia. Coelacanth Energy Inc was incorporated in 2022 and is headquartered in Calgary, Canada.