NXT Energy Solutions (TSE:SFD) Stock Crosses Below 50 Day Moving Average – Here’s What Happened

NXT Energy Solutions Inc. (TSE:SFD) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$0.56 and traded as low as C$0.38. NXT Energy Solutions shares last traded at C$0.38, with a volume of 1,800 shares traded.

NXT Energy Solutions Trading Down 5.0%

The company’s fifty day moving average price is C$0.56 and its two-hundred day moving average price is C$0.59. The company has a current ratio of 0.28, a quick ratio of 0.35 and a debt-to-equity ratio of 438.95. The firm has a market cap of C$41.41 million, a P/E ratio of -7.60 and a beta of -0.61.

Insider Buying and Selling at NXT Energy Solutions

In other news, Director Jeffrey Tilson bought 36,720 shares of the stock in a transaction dated Thursday, August 14th. The shares were acquired at an average price of C$0.89 per share, with a total value of C$32,677.13. Following the acquisition, the director owned 6,839,912 shares in the company, valued at C$6,086,837.69. This trade represents a 0.54% increase in their ownership of the stock. Over the last 90 days, insiders have sold 26,000 shares of company stock valued at $15,030. 39.71% of the stock is currently owned by corporate insiders.

About NXT Energy Solutions

NXT Energy Solutions Inc is a Canadian company which offers geophysical service to the upstream oil and gas industry using its gravity-based Stress Field Detection (SFD) remote-sensing survey system. The SFD is an airborne survey system that is used in the oil and natural gas exploration industry to help in identifying areas with hydrocarbon reservoir potential.