Orca Exploration Group (CVE:ORC.B) Shares Pass Below 50-Day Moving Average – Here’s Why

Orca Exploration Group Inc (CVE:ORC.B) shares crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$3.34 and traded as low as C$2.80. Orca Exploration Group shares last traded at C$2.80, with a volume of 527 shares trading hands.

Orca Exploration Group Price Performance

The company’s fifty day simple moving average is C$3.32 and its 200-day simple moving average is C$3.54. The company has a debt-to-equity ratio of 40.57, a current ratio of 2.16 and a quick ratio of 1.80. The firm has a market capitalization of C$55.44 million, a PE ratio of 4.52 and a beta of 0.86.

Orca Exploration Group Company Profile

Orca Exploration Group Inc explores for, develops, produces, and sells petroleum and natural gas to the power and industrial sectors in Tanzania. The company principally holds interests in the Songo Songo natural gas field that includes two blocks covering an area of approximately 41,630 acres located to the south of Dar Es Salaam. It also holds oil and gas exploration and appraisal interests in Italy. The company was formerly known as EastCoast Energy Corporation and changed its name to Orca Exploration Group Inc in April 2007.