Canadian Spirit Resources (CVE:SPI) Trading 50% Higher – Here’s Why

Canadian Spirit Resources Inc. (CVE:SPI)’s share price shot up 50% on Tuesday . The stock traded as high as C$0.02 and last traded at C$0.02. 485,100 shares changed hands during mid-day trading, an increase of 354% from the average session volume of 106,921 shares. The stock had previously closed at C$0.01.

Canadian Spirit Resources Price Performance

The stock has a market capitalization of C$4.32 million, a price-to-earnings ratio of -0.25 and a beta of -0.62. The company’s 50-day simple moving average is C$0.02 and its 200-day simple moving average is C$0.02. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.18 and a quick ratio of 2.06.

About Canadian Spirit Resources

Canadian Spirit Resources Inc, a natural resources company, focuses on the identification and development of opportunities in the unconventional natural gas sector in Canada. It primarily develops the Montney Formation natural gas and natural gas liquids resource play in the Farrell Creek Montney area of northeastern British Columbia. The company was formerly known as Spirit Energy Corp. and changed its name to Canadian Spirit Resources Inc in June 2004. Canadian Spirit Resources Inc was incorporated in 1987 and is headquartered in Calgary, Canada.