Pinetree Capital (TSE:PNP) Shares Cross Above Fifty Day Moving Average – Here’s Why

Pinetree Capital Ltd. (TSE:PNP)’s stock price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$9.42 and traded as high as C$9.80. Pinetree Capital shares last traded at C$9.79, with a volume of 3,200 shares.

Pinetree Capital Trading Up 0.7%

The business has a 50 day simple moving average of C$9.43 and a 200-day simple moving average of C$9.23. The company has a debt-to-equity ratio of 15.62, a quick ratio of 5.97 and a current ratio of 0.10. The stock has a market capitalization of C$91.71 million, a P/E ratio of -21.71 and a beta of 0.93.

Insider Activity

In other news, insider Shezad Kassam Okhai acquired 4,500 shares of the stock in a transaction on Friday, August 7th. The shares were purchased at an average cost of C$9.56 per share, for a total transaction of C$43,020.00. Following the transaction, the insider owned 499,100 shares in the company, valued at approximately C$4,771,396. This trade represents a 0.91% increase in their position. Insiders have purchased a total of 8,000 shares of company stock worth $75,265 in the last quarter. 43.35% of the stock is owned by insiders.

Pinetree Capital Company Profile

Pinetree Capital Ltd is an investment and merchant banking company. It is engaged in the small-cap market with early-stage investments in resource and technology components. The company has a single reportable geographic segment, Canada. Pinetree’s investment portfolio consists of investments, cash, cash equivalents, and cash due from brokers.