Torrent Capital (CVE:TORR) Shares Up 18% – Should You Buy?

Torrent Capital Ltd. (CVE:TORR) rose 18% during mid-day trading on Tuesday . The company traded as high as C$0.59 and last traded at C$0.59. 12,500 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 18,248 shares. The stock had previously closed at C$0.50.

Torrent Capital Price Performance

The stock’s 50-day moving average price is C$0.51 and its 200 day moving average price is C$0.52. The firm has a market cap of C$22.53 million, a P/E ratio of 9.83 and a beta of -0.11.

Insider Transactions at Torrent Capital

In other Torrent Capital news, Director Wade K. Dawe purchased 72,500 shares of the business’s stock in a transaction on Friday, July 3rd. The shares were purchased at an average cost of C$0.55 per share, with a total value of C$39,875.00. Following the transaction, the director directly owned 9,986,167 shares of the company’s stock, valued at C$5,492,391.85. This represents a 0.73% increase in their position. In the last quarter, insiders have acquired 158,000 shares of company stock valued at $84,580. 60.95% of the stock is currently owned by insiders.

About Torrent Capital

Torrent Capital Ltd. operates as an investment company, primarily invests in the securities of public and private companies. It also focuses on the construction of port infrastructure; and provision of services and equity ownership in businesses that support aquaculture, renewable energy, and oil and gas sectors, as well as other port developments. The company was formerly known as Metallum Resources Inc and changed its name to Torrent Capital Ltd. in February 2017. Torrent Capital Ltd. is based in Halifax, Canada.