High Arctic Energy Services (TSE:HWO) Stock Crosses Below 200 Day Moving Average – Here’s Why

Shares of High Arctic Energy Services Inc (TSE:HWO) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$0.86 and traded as low as C$0.83. High Arctic Energy Services shares last traded at C$0.88, with a volume of 2,000 shares trading hands.

High Arctic Energy Services Price Performance

The company has a quick ratio of 4.54, a current ratio of 2.50 and a debt-to-equity ratio of 18.34. The company’s 50 day moving average is C$0.86 and its 200 day moving average is C$0.86. The firm has a market capitalization of C$11.17 million, a price-to-earnings ratio of 29.33 and a beta of -0.27.

High Arctic Energy Services (TSE:HWO) last released its quarterly earnings results on Thursday, May 14th. The company reported C$0.07 EPS for the quarter. High Arctic Energy Services had a net margin of 12.06% and a return on equity of 6.04%. The business had revenue of C$2.74 million for the quarter. On average, equities research analysts anticipate that High Arctic Energy Services Inc will post -0.01 earnings per share for the current fiscal year.

About High Arctic Energy Services

High Arctic Energy Services Inc is engaged in providing contract drilling, well servicing, completion services, equipment rentals, and other oilfield services to the oil and natural gas industry in Papua New Guinea and Canada. The operating segments of the company are Drilling Services segment which consists of the drilling services; Production Services segment which consists of the well servicing and snubbing services; Ancillary Services segment which provides rental equipment and engineering consulting to various companies within the oil and gas sector and Corporate segment.