Microbix Biosystems (TSE:MBX) Trading Down 8.3% – Here’s Why

Microbix Biosystems Inc. (TSE:MBX)’s stock price dropped 8.3% during trading on Thursday . The stock traded as low as C$0.21 and last traded at C$0.22. Approximately 234,407 shares traded hands during trading, an increase of 114% from the average daily volume of 109,457 shares. The stock had previously closed at C$0.24.

Microbix Biosystems Price Performance

The stock has a market capitalization of C$29.88 million, a price-to-earnings ratio of -107.50 and a beta of 0.20. The company has a quick ratio of 5.57, a current ratio of 7.15 and a debt-to-equity ratio of 22.61. The business has a 50-day simple moving average of C$0.25 and a two-hundred day simple moving average of C$0.27.

Microbix Biosystems (TSE:MBX) last issued its quarterly earnings results on Thursday, December 18th. The company reported C($0.01) earnings per share (EPS) for the quarter. Microbix Biosystems had a net margin of 13.86% and a return on equity of 12.65%. The firm had revenue of C$3.74 million for the quarter. As a group, research analysts predict that Microbix Biosystems Inc. will post 0.02 earnings per share for the current fiscal year.

Microbix Biosystems Company Profile

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.