NXT Energy Solutions (TSE:SFD) Share Price Passes Below 50-Day Moving Average – Here’s Why

NXT Energy Solutions Inc. (TSE:SFD)’s share price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$0.36 and traded as low as C$0.31. NXT Energy Solutions shares last traded at C$0.31, with a volume of 1,090 shares trading hands.

NXT Energy Solutions Price Performance

The company has a debt-to-equity ratio of 438.95, a current ratio of 0.28 and a quick ratio of 0.35. The company has a 50-day simple moving average of C$0.36 and a 200-day simple moving average of C$0.57. The stock has a market cap of C$35.48 million, a PE ratio of -6.10 and a beta of -0.62.

About NXT Energy Solutions

NXT Energy Solutions Inc is a Canadian company which offers geophysical service to the upstream oil and gas industry using its gravity-based Stress Field Detection (SFD) remote-sensing survey system. The SFD is an airborne survey system that is used in the oil and natural gas exploration industry to help in identifying areas with hydrocarbon reservoir potential. The SFD system is used to accelerate onshore and offshore exploration over any terrain with the aim of reducing the total time, cost and risk of the exploration cycle, with no environmental footprint or community impact.