Hemisphere Energy (CVE:HME) Stock Passes Below Fifty Day Moving Average – Here’s What Happened

Shares of Hemisphere Energy Co. (CVE:HME) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$1.84 and traded as low as C$1.82. Hemisphere Energy shares last traded at C$1.85, with a volume of 36,796 shares changing hands.

Wall Street Analyst Weigh In

Separately, Noble Financial raised Hemisphere Energy to a “strong-buy” rating in a research note on Wednesday, July 17th.

Hemisphere Energy Price Performance

The stock has a 50 day moving average of C$1.84 and a two-hundred day moving average of C$1.77. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.74 and a current ratio of 3.98. The firm has a market capitalization of C$181.78 million, a P/E ratio of 6.38 and a beta of 1.95.

Hemisphere Energy (CVE:HME) last issued its quarterly earnings data on Tuesday, August 20th. The company reported C$0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of C$0.10. The business had revenue of C$22.68 million for the quarter, compared to the consensus estimate of C$26.84 million. Hemisphere Energy had a return on equity of 45.52% and a net margin of 38.45%. Sell-side analysts predict that Hemisphere Energy Co. will post 0.3499079 earnings per share for the current fiscal year.

Hemisphere Energy Company Profile

Hemisphere Energy Corporation acquires, explores, develops, and produces petroleum and natural gas interests in Canada. It primarily owns a 100% interest in the Atlee Buffalo property located in southeastern Alberta. The company was formerly known as Northern Hemisphere Development Corp. and changed its name to Hemisphere Energy Corporation in April 2009.