Alvopetro Energy (CVE:ALV) Reaches New 1-Year High – Time to Buy?

Alvopetro Energy Ltd. (CVE:ALV)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as C$11.10 and last traded at C$10.96, with a volume of 22682 shares changing hands. The stock had previously closed at C$10.72.

Alvopetro Energy Stock Up 2.4%

The company has a 50 day simple moving average of C$9.73 and a two-hundred day simple moving average of C$9.04. The company has a quick ratio of 1.95, a current ratio of 1.47 and a debt-to-equity ratio of 24.57. The company has a market capitalization of C$409.64 million, a P/E ratio of 14.84 and a beta of -0.75.

Insider Buying and Selling at Alvopetro Energy

In other Alvopetro Energy news, Director Corey Christopher Ruttan sold 15,000 shares of Alvopetro Energy stock in a transaction on Thursday, August 13th. The shares were sold at an average price of C$9.90, for a total transaction of C$148,500.00. Following the completion of the transaction, the director directly owned 913,583 shares of the company’s stock, valued at C$9,044,471.70. The trade was a 1.62% decrease in their ownership of the stock. Also, insider Adrian Audet sold 5,000 shares of the business’s stock in a transaction on Friday, June 19th. The shares were sold at an average price of C$9.00, for a total transaction of C$45,000.00. Following the transaction, the insider owned 134,179 shares in the company, valued at C$1,207,611. This trade represents a 3.59% decrease in their position. Insiders have sold a total of 59,100 shares of company stock worth $565,092 in the last 90 days. 19.35% of the stock is currently owned by insiders.

About Alvopetro Energy

Alvopetro Energy Ltd. operates as an independent upstream and midstream operator. It engages in the acquisition, exploration, development, and production of hydrocarbons. The company holds interests in the Caburé and Murucututu natural gas assets, Block 182 and 183 exploration assets, and Bom Lugar and Mãe-da-lua oil fields, which covers an area of approximately 22,166 acres in the Recôncavo basin onshore Brazil. Alvopetro Energy Ltd. was incorporated in 2013 and is headquartered in Calgary, Canada.