Orbit Garant Drilling (TSE:OGD) Share Price Passes Above 200-Day Moving Average – Here’s Why

Orbit Garant Drilling Inc. (TSE:OGD)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$1.55 and traded as high as C$1.71. Orbit Garant Drilling shares last traded at C$1.57, with a volume of 113,433 shares trading hands.

Orbit Garant Drilling Stock Performance

The stock has a market cap of C$59.27 million, a PE ratio of 7.85, a price-to-earnings-growth ratio of 0.65 and a beta of 0.46. The company has a quick ratio of 1.01, a current ratio of 2.58 and a debt-to-equity ratio of 54.62. The firm has a 50 day moving average price of C$1.66 and a 200 day moving average price of C$1.55.

Insider Activity at Orbit Garant Drilling

In related news, insider Sylvain Laroche sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of C$1.60, for a total transaction of C$40,000.00. Following the sale, the insider owned 212,571 shares of the company’s stock, valued at C$340,113.60. This trade represents a 10.52% decrease in their ownership of the stock. Corporate insiders own 24.36% of the company’s stock.

Orbit Garant Drilling Company Profile

Orbit Garant Drilling Inc is a Canadian based drilling company providing services to mining companies through all stages of exploration, development, and production. The company operates a surface and underground diamond drilling business. The firm also manufactures conventional drill rigs while also manufacturing and providing other support equipment such as water recirculation systems, heat recovery systems, and fuel-efficient systems.