Cabo Drilling (CVE:CBE) Share Price Passes Below Fifty Day Moving Average – Here’s Why

Cabo Drilling Corp (CVE:CBE)’s share price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$0.02 and traded as low as C$0.01. Cabo Drilling shares last traded at C$0.01, with a volume of 1,000 shares trading hands.

Cabo Drilling Price Performance

The firm has a market cap of C$1.41 million and a PE ratio of -0.25. The company has a quick ratio of 0.13, a current ratio of 0.79 and a debt-to-equity ratio of 260.64. The stock has a 50 day moving average price of C$0.02 and a two-hundred day moving average price of C$0.01.

Cabo Drilling Company Profile

Cabo Drilling Corp., a drilling services company, provides contract drilling services to major, mid-tier, and junior mining and mineral exploration companies in Canada, Greece, Panama, Colombia, Albania, Kosovo, and the United States. Its services include surface and underground coring, directional, reverse circulation, and geotechnical drilling. The company also offers tree falling and clearing services; and services to the infrastructure sector. Cabo Drilling Corp. is headquartered in New Westminster, Canada.