Western Energy Services (TSE:WRG) Shares Cross Above Fifty Day Moving Average – Here’s What Happened

Western Energy Services Corp. (TSE:WRG) shares crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$2.09 and traded as high as C$2.14. Western Energy Services shares last traded at C$2.13, with a volume of 300 shares traded.

Western Energy Services Trading Down 0.9%

The company has a debt-to-equity ratio of 37.49, a current ratio of 1.82 and a quick ratio of 1.46. The company has a market capitalization of C$72.09 million, a price-to-earnings ratio of -11.21, a P/E/G ratio of 0.09 and a beta of 0.41. The business’s 50-day moving average price is C$2.09 and its two-hundred day moving average price is C$2.11.

Western Energy Services (TSE:WRG) last issued its quarterly earnings results on Tuesday, October 21st. The company reported C($0.07) earnings per share (EPS) for the quarter. Western Energy Services had a negative return on equity of 2.40% and a negative net margin of 3.45%.The company had revenue of C$50.04 million for the quarter. Research analysts predict that Western Energy Services Corp. will post 0.1499094 earnings per share for the current year.

Insider Activity

In related news, insider Sime Armoyan purchased 12,400 shares of the firm’s stock in a transaction that occurred on Tuesday, October 21st. The shares were bought at an average price of C$2.03 per share, for a total transaction of C$25,172.00. Following the completion of the transaction, the insider owned 6,920,256 shares of the company’s stock, valued at approximately C$14,048,119.68. This trade represents a 0.18% increase in their ownership of the stock. Company insiders own 32.65% of the company’s stock.

About Western Energy Services

Western Energy Services Corp operates as an oilfield service industry in Canada and the United States of America. The company functions its drilling services through two segments namely, Contract drilling and Production services. Its contract drilling segment is involved in drilling rigs with ancillary equipment as well as provides such services to crude oil and natural gas exploration and production companies.