Western Forest Products (TSE:WEF) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Western Forest Products Inc. (TSE:WEF)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$11.99 and traded as low as C$10.55. Western Forest Products shares last traded at C$10.69, with a volume of 6,352 shares trading hands.

Western Forest Products Price Performance

The company has a current ratio of 3.04, a quick ratio of 0.73 and a debt-to-equity ratio of 19.61. The company’s fifty day moving average is C$11.26 and its two-hundred day moving average is C$11.98. The stock has a market cap of C$112.87 million, a price-to-earnings ratio of -1.73, a P/E/G ratio of 0.32 and a beta of 0.80.

Western Forest Products (TSE:WEF) last released its quarterly earnings results on Wednesday, November 5th. The company reported C($5.71) EPS for the quarter. Western Forest Products had a negative return on equity of 7.69% and a negative net margin of 4.21%.The firm had revenue of C$233.00 million for the quarter. As a group, research analysts predict that Western Forest Products Inc. will post 0.004992 earnings per share for the current year.

Insider Activity

In related news, insider Kernwood Limited purchased 2,600 shares of Western Forest Products stock in a transaction on Thursday, November 6th. The shares were bought at an average price of C$11.55 per share, with a total value of C$30,030.00. Following the transaction, the insider directly owned 1,791,200 shares of the company’s stock, valued at approximately C$20,688,360. This trade represents a 0.15% increase in their ownership of the stock. Also, Director Elizabeth Kernaghan acquired 2,600 shares of the stock in a transaction dated Thursday, November 6th. The shares were bought at an average cost of C$11.55 per share, with a total value of C$30,030.00. Following the completion of the transaction, the director owned 1,791,200 shares of the company’s stock, valued at approximately C$20,688,360. This represents a 0.15% increase in their position. In the last 90 days, insiders have acquired 84,400 shares of company stock worth $985,196. 0.67% of the stock is owned by company insiders.

About Western Forest Products

Western Forest Products Inc is a Canada-based softwood forest products company. The company’s principal business activities include timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber remanufacturing. Its operating business segment comprised of Timber harvesting, Log sales, and Lumber manufacturing and sales. The firm purchases and harvests logs which are then manufactured into lumber products at its sawmills, or sold. Canada and the United States, represent the company’s largest markets and contribute the vast majority of its total revenue.