Canadian Spirit Resources (CVE:SPI) Trading Up 50% – Still a Buy?

Canadian Spirit Resources Inc. (CVE:SPI)’s stock price traded up 50% during mid-day trading 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 Stock Up 50.0%

The company has a current ratio of 1.18, a quick ratio of 2.06 and a debt-to-equity ratio of 0.07. The company has a 50 day simple moving average of C$0.02 and a two-hundred day simple moving average of C$0.02. The firm has a market capitalization of C$4.32 million, a P/E ratio of -0.25 and a beta of -0.62.

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.