Canada Nickel (CVE:CNC) Stock Price Down 2.7% – Time to Sell?

Canada Nickel Company Inc. (CVE:CNC) dropped 2.7% during trading on Friday . The company traded as low as C$1.43 and last traded at C$1.44. Approximately 469,168 shares traded hands during trading, a decline of 44% from the average daily volume of 842,452 shares. The stock had previously closed at C$1.48.

Canada Nickel Price Performance

The firm has a 50 day moving average price of C$1.46 and a two-hundred day moving average price of C$1.62. The company has a market cap of C$352.24 million, a P/E ratio of -13.09 and a beta of 0.51. The company has a debt-to-equity ratio of 24.31, a quick ratio of 1.20 and a current ratio of 0.35.

Insiders Place Their Bets

In other Canada Nickel news, insider Stephen James Balch sold 77,541 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of C$1.65, for a total transaction of C$127,942.65. Following the completion of the transaction, the insider owned 64,816 shares in the company, valued at C$106,946.40. This trade represents a 54.47% decrease in their ownership of the stock. 14.82% of the stock is owned by corporate insiders.

About Canada Nickel

Canada Nickel Company Inc, together with its subsidiaries, engages in the exploration, discovery, and development of nickel sulphide assets. It also develops zero-carbon production of nickel, cobalt, and iron. Its flagship project is the Crawford Nickel project located in northern Ontario, Canada. It serves electric vehicle, green energy, and stainless steel markets. The company was incorporated in 2019 and is headquartered in Toronto, Canada.