Greystone Logistics (OTCMKTS:GLGI) Shares Pass Below 200-Day Moving Average – Time to Sell?

Greystone Logistics, Inc. (OTCMKTS:GLGI) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.32 and traded as low as $0.2141. Greystone Logistics shares last traded at $0.2208, with a volume of 12,500 shares traded.

Greystone Logistics Stock Up 9.6%

The firm has a market capitalization of $6.02 million, a price-to-earnings ratio of -1.30 and a beta of -0.08. The firm’s 50 day moving average is $0.20 and its 200 day moving average is $0.32.

Greystone Logistics (OTCMKTS:GLGI) last posted its quarterly earnings results on Tuesday, April 14th. The company reported ($0.10) earnings per share (EPS) for the quarter. The business had revenue of $3.47 million during the quarter. Greystone Logistics had a negative return on equity of 27.34% and a negative net margin of 11.80%.

Greystone Logistics Company Profile

Greystone Logistics, Inc, through its subsidiaries, manufactures and markets plastic pallets and pelletized recycled plastic resins in the United States. The company offers rackable, can, nestable, display, monoblock, half-barrel and slim keg stackable, drum, and mid duty pallets. It sells its pallets directly, as well as through a network of independent contractor distributors. The company was formerly known as PalWeb Corporation and changed its name to Greystone Logistics, Inc in March 2005. Greystone Logistics, Inc was incorporated in 1969 and is based in Tulsa, Oklahoma.