McCoy Global (TSE:MCB) Share Price Crosses Below 200 Day Moving Average – Here’s Why

McCoy Global Inc. (TSE:MCB) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$2.47 and traded as low as C$2.43. McCoy Global shares last traded at C$2.44, with a volume of 22,853 shares changing hands.

McCoy Global Trading Down 2.8%

The company’s 50 day moving average price is C$2.39 and its 200 day moving average price is C$2.47. The firm has a market cap of C$66.31 million, a PE ratio of 17.43 and a beta of 0.25. The company has a debt-to-equity ratio of 3.26, a current ratio of 3.54 and a quick ratio of 1.26.

McCoy Global (TSE:MCB) last announced its quarterly earnings data on Friday, November 6th. The company reported C($0.04) earnings per share (EPS) for the quarter. McCoy Global had a net margin of 5.46% and a return on equity of 5.44%. The company had revenue of C$13.38 million during the quarter. As a group, analysts forecast that McCoy Global Inc. will post 0.30 EPS for the current fiscal year.

Insider Activity at McCoy Global

In other news, insider Kernwood Limited purchased 522,300 shares of the stock in a transaction on Friday, October 2nd. The stock was bought at an average price of C$2.25 per share, for a total transaction of C$1,175,175.00. Following the acquisition, the insider directly owned 3,314,600 shares of the company’s stock, valued at approximately C$7,457,850. The trade was a 18.71% increase in their position. Also, Director Elizabeth Kernaghan purchased 522,300 shares of the business’s stock in a transaction on Friday, October 2nd. The stock was acquired at an average price of C$2.25 per share, for a total transaction of C$1,175,175.00. Following the completion of the purchase, the director owned 3,314,600 shares of the company’s stock, valued at C$7,457,850. This represents a 18.71% increase in their ownership of the stock. Insiders have acquired a total of 1,050,000 shares of company stock valued at $2,362,462 in the last quarter. 3.66% of the stock is currently owned by company insiders.

About McCoy Global

McCoy Global is transforming well construction using automation and machine learning to maximize wellbore integrity and collect precise connection data critical to the global energy industry. The Corporation has offices in Canada, the United States of America, and the United Arab Emirates and operates internationally in more than 50 countries through a combination of direct sales and key distributors. Throughout McCoy’s 100-year history, it has proudly called Edmonton, Alberta, Canada its corporate headquarters.