Orbit Garant Drilling (TSE:OGD) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Orbit Garant Drilling Inc. (TSE:OGD) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$1.57 and traded as high as C$1.64. Orbit Garant Drilling shares last traded at C$1.61, with a volume of 24,000 shares trading hands.

Orbit Garant Drilling Stock Performance

The company has a market cap of C$61.02 million, a price-to-earnings ratio of 8.05, a P/E/G ratio of 0.65 and a beta of 0.40. The company has a current ratio of 2.58, a quick ratio of 1.01 and a debt-to-equity ratio of 54.62. The stock’s fifty day simple moving average is C$1.68 and its 200 day simple moving average is C$1.57.

Insider Activity

In other news, insider Sylvain Laroche sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of C$1.60, for a total transaction of C$40,000.00. Following the completion of the sale, the insider owned 212,571 shares in the company, valued at C$340,113.60. This trade represents a 10.52% decrease in their position. 24.36% of the stock is owned by corporate insiders.

About Orbit Garant Drilling

Orbit Garant Drilling Inc is a Canadian based drilling company providing services to mining companies through all stages of exploration, development, and production. The company operates a surface and underground diamond drilling business. The firm also manufactures conventional drill rigs while also manufacturing and providing other support equipment such as water recirculation systems, heat recovery systems, and fuel-efficient systems.