TransGlobe Energy (NASDAQ:TGA) Shares Pass Above Two Hundred Day Moving Average of $1.10

TransGlobe Energy Co. (NASDAQ:TGA) (TSE:TGL)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.10 and traded as high as $1.63. TransGlobe Energy shares last traded at $1.61, with a volume of 198,279 shares traded.

Separately, Canaccord Genuity reiterated a “buy” rating on shares of TransGlobe Energy in a report on Thursday, January 21st.

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.30 and a quick ratio of 1.01. The stock has a fifty day moving average of $1.58 and a 200 day moving average of $1.10. The firm has a market capitalization of $116.79 million, a P/E ratio of -1.41 and a beta of 2.97.

TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) last released its earnings results on Friday, March 12th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter. TransGlobe Energy had a negative return on equity of 17.29% and a negative net margin of 47.93%. The firm had revenue of $50.99 million during the quarter.

An institutional investor recently raised its position in TransGlobe Energy stock. Renaissance Technologies LLC increased its stake in TransGlobe Energy Co. (NASDAQ:TGA) (TSE:TGL) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,158,638 shares of the basic materials company’s stock after purchasing an additional 57,692 shares during the quarter. Renaissance Technologies LLC owned about 4.35% of TransGlobe Energy worth $3,037,000 at the end of the most recent quarter. 26.19% of the stock is owned by institutional investors.

TransGlobe Energy Company Profile (NASDAQ:TGA)

TransGlobe Energy Corporation, together with its subsidiaries, engages in the acquisition, exploration, development, and production of crude oil and natural gas in Egypt and Canada. The company holds interests in four production sharing concessions, which include West Gharib, West Bakr, NW Gharib, and South Ghazalat, Egypt; and owns production and working interests in facilities in the Cardium light oil and Mannville liquid-rich gas assets in the Harmattan area of west central Alberta, Canada.

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