Canacol Energy (OTCMKTS:CNNEF) Stock Price Passes Below 50-Day Moving Average – Should You Sell?

Canacol Energy Ltd (OTCMKTS:CNNEF) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $0.57 and traded as low as $0.0150. Canacol Energy shares last traded at $0.06, with a volume of 25,873 shares.

Canacol Energy Stock Down 14.3%

The company has a market cap of $2.05 million, a price-to-earnings ratio of 0.05 and a beta of 1.01. The stock’s 50-day simple moving average is $0.57 and its 200 day simple moving average is $1.21.

Canacol Energy (OTCMKTS:CNNEF) last released its quarterly earnings results on Monday, November 17th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.06). The firm had revenue of $69.49 million for the quarter, compared to analyst estimates of $77.92 million.

About Canacol Energy

Canacol Energy Ltd is an independent upstream company specializing in the exploration, development and production of natural gas. Headquartered in Calgary, the company’s principal operations are located in Colombia’s Llanos and Middle Magdalena basins. Canacol holds interests in key gas-producing assets such as the Caricare and Tisquirama hubs, with reserves tied into midstream infrastructure that serves domestic power generation, industrial users and residential markets.

Since its founding in 1995, Canacol has pursued growth through farm-in agreements, strategic asset acquisitions and focused appraisal drilling.