Pinetree Capital (TSE:PNP) Stock Passes Below 200-Day Moving Average – Here’s Why

Shares of Pinetree Capital Ltd. (TSE:PNP) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$9.90 and traded as low as C$8.90. Pinetree Capital shares last traded at C$9.00, with a volume of 17,091 shares trading hands.

Pinetree Capital Stock Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 15.62 and a quick ratio of 5.97. The business has a 50-day simple moving average of C$8.95 and a 200-day simple moving average of C$9.90. The firm has a market capitalization of C$84.48 million, a PE ratio of -4.27 and a beta of 0.93.

Pinetree Capital (TSE:PNP) last issued its quarterly earnings data on Thursday, April 30th. The company reported C($2.02) earnings per share (EPS) for the quarter. Pinetree Capital had a negative net margin of 355.44% and a negative return on equity of 23.88%. The company had revenue of C($18.48) million for the quarter.

Insider Transactions at Pinetree Capital

In related news, insider L6 Holdings Inc. acquired 21,300 shares of the firm’s stock in a transaction on Monday, May 25th. The shares were acquired at an average cost of C$8.75 per share, for a total transaction of C$186,375.00. Following the completion of the transaction, the insider directly owned 3,215,700 shares in the company, valued at approximately C$28,137,375. This trade represents a 0.67% increase in their position. Insiders purchased 43,600 shares of company stock worth $380,449 in the last quarter. Corporate insiders own 43.35% of the company’s stock.

About Pinetree Capital

Pinetree Capital Ltd is an investment and merchant banking company. It is engaged in the small-cap market with early-stage investments in resource and technology components. The company has a single reportable geographic segment, Canada. Pinetree’s investment portfolio consists of investments, cash, cash equivalents, and cash due from brokers.