Rubellite Energy (TSE:RBY) Shares Cross Below 200-Day Moving Average – Time to Sell?

Rubellite Energy Inc. (TSE:RBY) shares crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of C$3.64 and traded as low as C$3.39. Rubellite Energy shares last traded at C$3.46, with a volume of 135,819 shares trading hands.

Rubellite Energy Price Performance

The company has a current ratio of 0.88, a quick ratio of 1.21 and a debt-to-equity ratio of 42.80. The company has a 50 day moving average price of C$4.25 and a 200 day moving average price of C$3.65. The company has a market capitalization of C$316.58 million, a P/E ratio of 12.48 and a beta of -0.55.

Rubellite Energy (TSE:RBY) last posted its earnings results on Monday, November 9th. The company reported C($0.29) earnings per share for the quarter. Rubellite Energy had a negative return on equity of 1.89% and a negative net margin of 2.58%. The business had revenue of C$14.54 million for the quarter.

Insider Buying and Selling

In other Rubellite Energy news, insider Jeff Green sold 73,664 shares of Rubellite Energy stock in a transaction on Thursday, September 10th. The shares were sold at an average price of C$4.40, for a total transaction of C$324,121.60. Following the completion of the transaction, the insider directly owned 105,502 shares of the company’s stock, valued at C$464,208.80. The trade was a 41.11% decrease in their ownership of the stock. Insiders have sold 130,000 shares of company stock worth $572,000 over the last three months. Insiders own 34.83% of the company’s stock.

About Rubellite Energy

Rubellite Energy Inc is a Canadian energy company. It is focused on Clearwater oil exploration and development utilizing multi-lateral horizontal drilling technology. The Clearwater is a high rate of return play with compelling economics at current forward market prices for Western Canadian Select crude oil.