Pine Cliff Energy (TSE:PNE) Hits New 52-Week Low at $0.10

Pine Cliff Energy Ltd (TSE:PNE) reached a new 52-week low during trading on Tuesday . The company traded as low as C$0.10 and last traded at C$0.10, with a volume of 43450 shares. The stock had previously closed at C$0.10.

A number of research analysts have recently commented on PNE shares. Canaccord Genuity cut their price target on shares of Pine Cliff Energy from C$0.50 to C$0.30 in a report on Tuesday, July 9th. CIBC cut their price target on shares of Pine Cliff Energy from C$0.50 to C$0.25 in a report on Thursday, July 18th. TD Securities cut their price target on shares of Pine Cliff Energy from C$0.20 to C$0.15 and set a “hold” rating on the stock in a report on Thursday, August 8th. National Bank Financial set a C$0.30 price target on shares of Pine Cliff Energy and gave the stock a “sector perform” rating in a report on Friday, May 10th. Finally, GMP Securities cut their price target on shares of Pine Cliff Energy from C$0.20 to C$0.15 in a report on Wednesday, August 7th.

The stock’s fifty day moving average price is C$0.15 and its 200 day moving average price is C$0.21. The company has a debt-to-equity ratio of 179.03, a current ratio of 0.95 and a quick ratio of 0.73. The stock has a market capitalization of $31.14 million and a P/E ratio of -0.48.

In other Pine Cliff Energy news, insider Robert Disbrow bought 450,000 shares of the company’s stock in a transaction on Monday, June 10th. The shares were bought at an average cost of C$0.18 per share, for a total transaction of C$81,000.00. Following the acquisition, the insider now directly owns 19,162,083 shares in the company, valued at C$3,449,174.94. Over the last quarter, insiders have acquired 775,000 shares of company stock worth $123,700.

About Pine Cliff Energy (TSE:PNE)

Pine Cliff Energy Ltd. engages in the acquisition, exploration, development, and production of natural gas, crude oil, and natural gas liquids in the Western Canadian Sedimentary Basin. The company primarily holds interests in natural gas assets in the Southern and Edson areas; and oil and natural gas assets in the Viking Kinsella and Ghost Pine area of Central Alberta.

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