Comet Industries (CVE:CMU) Stock Price Up 4.7% – What’s Next?

Comet Industries Ltd. (CVE:CMU) shares shot up 4.7% on Wednesday . The stock traded as high as C$4.50 and last traded at C$4.50. 100 shares were traded during trading, a decline of 99% from the average session volume of 7,815 shares. The stock had previously closed at C$4.30.

Comet Industries Trading Up 4.7%

The firm has a 50-day simple moving average of C$4.16 and a two-hundred day simple moving average of C$4.12. The company has a market capitalization of C$21.58 million, a price-to-earnings ratio of -30.00 and a beta of -0.53.

Insider Buying and Selling

In related news, Director Michael Santoro bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The shares were purchased at an average cost of C$3.70 per share, with a total value of C$37,000.00. Following the completion of the acquisition, the director directly owned 75,000 shares in the company, valued at approximately C$277,500. The trade was a 15.38% increase in their ownership of the stock. 43.77% of the stock is currently owned by company insiders.

Comet Industries Company Profile

Comet Industries Ltd. holds and manages real estate properties in the British Columbia. It also acquires and develops mineral properties. The company holds a 40% working interest in the Iron Mask property located in southwest Kamloops, British Columbia. It also owns a 10% carried net profit interest in a contiguous block of mineral properties; and the surface land titles comprising the crown grants located in Kamloops, British Columbia.