Microbix Biosystems (TSE:MBX) Stock Price Passes Below 50 Day Moving Average – Should You Sell?

Microbix Biosystems Inc. (TSE:MBX)’s share price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$0.26 and traded as low as C$0.25. Microbix Biosystems shares last traded at C$0.25, with a volume of 15,373 shares traded.

Wall Street Analysts Forecast Growth

Separately, Bloom Burton lowered Microbix Biosystems from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, June 5th.

Microbix Biosystems Stock Performance

The company has a debt-to-equity ratio of 22.61, a current ratio of 7.15 and a quick ratio of 5.57. The company has a 50 day simple moving average of C$0.26 and a 200-day simple moving average of C$0.32. The stock has a market cap of C$34.36 million, a P/E ratio of -122.50 and a beta of 0.06.

About Microbix Biosystems

Microbix develops proprietary biological technology solutions for human health and well-being, with about 90 skilled employees and sales growing from a base of over $1 million per month. It makes a wide range of critical biological materials for the global diagnostics industry, notably antigens for immunoassays and its laboratory quality assessment products that support clinical lab proficiency testing, assay development and validation, or clinical lab workflows.