Microbix Biosystems (TSE:MBX) Stock Price Crosses Below 50 Day Moving Average – Time to Sell?

Shares of Microbix Biosystems Inc. (TSE:MBX) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$0.33 and traded as low as C$0.30. Microbix Biosystems shares last traded at C$0.30, with a volume of 94,973 shares traded.

Wall Street Analysts Forecast Growth

Separately, Bloom Burton downgraded shares of Microbix Biosystems from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, June 5th.

Microbix Biosystems Stock Up 1.7%

The company has a market cap of C$39.51 million, a P/E ratio of 11.43 and a beta of 0.34. The company has a quick ratio of 5.57, a current ratio of 7.15 and a debt-to-equity ratio of 22.61. The company has a fifty day moving average of C$0.33 and a 200 day moving average of C$0.39.

Microbix Biosystems Company Profile

Microbix Biosystems Inc, a life science company, develops and commercializes proprietary biological and technological solutions for human health and wellbeing in North America, Europe, and internationally. The company manufactures diagnostic-test products, such as test-controls under the QAPs brand; viral transport medium for collection of patient samples to test for pathogens including virus causing the COVID-19 disease under the DxTM brand; Kinlytic, a biologic thrombolytic drug used to treat blood clots; and antigen products.