Tree Island Steel (TSE:TSL) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Tree Island Steel Ltd. (TSE:TSL) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$2.69 and traded as low as C$2.54. Tree Island Steel shares last traded at C$2.54, with a volume of 16,201 shares trading hands.

Tree Island Steel Price Performance

The stock has a market capitalization of C$64.95 million, a PE ratio of -11.95 and a beta of 0.18. The firm’s 50 day simple moving average is C$2.56 and its 200 day simple moving average is C$2.69. The company has a debt-to-equity ratio of 23.60, a current ratio of 4.37 and a quick ratio of 1.75.

Tree Island Steel (TSE:TSL) last posted its quarterly earnings results on Friday, May 15th. The company reported C($0.05) EPS for the quarter. The business had revenue of C$43.05 million for the quarter. Tree Island Steel had a negative return on equity of 4.70% and a negative net margin of 3.18%. As a group, equities analysts forecast that Tree Island Steel Ltd. will post 0.4054054 EPS for the current fiscal year.

Tree Island Steel Company Profile

Tree Island Steel Ltd operates in the steel business. It is engaged in the manufacturing and sale of steel wire and related products for a range of applications. It offers products such as bulk nails, stucco reinforcing products, concrete reinforcing mesh, fencing, and other fabricated wire products. The firm groups its products into the following: Industrial, Commercial, Agricultural, Construction, and Residential Construction. Key revenue is derived from the Industrial segment. The products are offered under Tree Island, Halsteel, K-Lath, True spec, Toughstrand, and Stucco-rite brands.