Torrent Capital (CVE:TORR) Shares Up 1.8% – Here’s Why

Shares of Torrent Capital Ltd. (CVE:TORR) traded up 1.8% during mid-day trading on Thursday . The stock traded as high as C$0.59 and last traded at C$0.58. 17,000 shares traded hands during mid-day trading, a decline of 7% from the average daily volume of 18,269 shares. The stock had previously closed at C$0.57.

Torrent Capital Stock Performance

The firm’s 50-day simple moving average is C$0.52 and its 200 day simple moving average is C$0.52. The stock has a market capitalization of C$22.14 million, a P/E ratio of 9.67 and a beta of -0.10.

Insider Activity

In related news, Director Wade K. Dawe bought 72,500 shares of the stock in a transaction that occurred on Friday, July 3rd. The shares were acquired at an average price of C$0.55 per share, with a total value of C$39,875.00. Following the completion of the transaction, the director owned 9,986,167 shares in the company, valued at C$5,492,391.85. The trade was a 0.73% increase in their ownership of the stock. Insiders bought a total of 158,000 shares of company stock valued at $84,580 over the last 90 days. 60.95% of the stock is currently owned by insiders.

Torrent Capital Company Profile

Torrent Capital Ltd. operates as an investment company, primarily invests in the securities of public and private companies. It also focuses on the construction of port infrastructure; and provision of services and equity ownership in businesses that support aquaculture, renewable energy, and oil and gas sectors, as well as other port developments. The company was formerly known as Metallum Resources Inc and changed its name to Torrent Capital Ltd. in February 2017. Torrent Capital Ltd. is based in Halifax, Canada.