Headwater Exploration (TSE:HWX) Sets New 52-Week Low – Should You Sell?

Headwater Exploration Inc. (TSE:HWX) shares reached a new 52-week low on Thursday . The stock traded as low as C$4.75 and last traded at C$5.59, with a volume of 1840799 shares traded. The stock had previously closed at C$4.91.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Raymond James upgraded shares of Headwater Exploration from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 7th. National Bankshares reduced their price objective on shares of Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. CIBC set a C$9.00 price objective on shares of Headwater Exploration and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Desjardins cut shares of Headwater Exploration from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$8.25 to C$7.25 in a research note on Wednesday, March 19th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Headwater Exploration currently has a consensus rating of “Buy” and a consensus target price of C$8.81.

Headwater Exploration Trading Up 13.8 %

The firm’s 50 day moving average is C$6.29 and its 200 day moving average is C$6.62. The company has a market cap of C$1.32 billion, a PE ratio of 7.17, a PEG ratio of 0.83 and a beta of 1.55. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.54 and a quick ratio of 2.07.

Insider Buying and Selling at Headwater Exploration

In other Headwater Exploration news, Director Phillip R. Knoll sold 5,400 shares of Headwater Exploration stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of C$6.97, for a total transaction of C$37,638.00. 5.08% of the stock is currently owned by company insiders.

Headwater Exploration Company Profile

Headwater Exploration Inc engages in the exploration, development, and production of petroleum and natural gas in Canada. It holds interest in the Marten Hills area located in Alberta, and McCully Field area located in New Brunswick. The company was formerly known as Corridor Resources Inc and changed its name to Headwater Exploration Inc in March 2020.