ShaMaran Petroleum (CVE:SNM) Stock Price Down 8% – Should You Sell?

ShaMaran Petroleum Corp. (CVE:SNM) shares fell 8% during trading on Wednesday . The company traded as low as C$0.12 and last traded at C$0.12. 294,070 shares were traded during mid-day trading, an increase of 54% from the average session volume of 191,500 shares. The stock had previously closed at C$0.13.

ShaMaran Petroleum Stock Down 4.2 %

The stock has a 50-day simple moving average of C$0.12 and a two-hundred day simple moving average of C$0.09. The company has a quick ratio of 1.07, a current ratio of 4.05 and a debt-to-equity ratio of 148.75. The firm has a market cap of C$326.60 million, a PE ratio of -3.75 and a beta of 1.14.

ShaMaran Petroleum (CVE:SNM) last issued its quarterly earnings results on Thursday, November 7th. The company reported C$0.04 EPS for the quarter. ShaMaran Petroleum had a negative net margin of 12.93% and a negative return on equity of 7.04%. Analysts expect that ShaMaran Petroleum Corp. will post 0.0271318 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director William A.W. Lundin acquired 501,500 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of C$0.12 per share, for a total transaction of C$60,180.00. 25.89% of the stock is currently owned by insiders.

About ShaMaran Petroleum

ShaMaran Petroleum Corp., together with its subsidiaries, engages in the oil and gas exploration and production. It holds interest in the Atrush Block production sharing contract; and in the Sarsang Production Sharing Contract in the Kurdistan region of Iraq. The company was incorporated in 1991 and is headquartered in Vancouver, Canada.