East West Petroleum (CVE:EW) Trading Down 18.3% – Time to Sell?

East West Petroleum Corp. (CVE:EW)’s stock price fell 18.3% during trading on Friday . The stock traded as low as C$0.24 and last traded at C$0.25. 25,217 shares were traded during mid-day trading, an increase of 81% from the average session volume of 13,931 shares. The stock had previously closed at C$0.30.

East West Petroleum Stock Performance

The company has a market cap of C$2.22 million, a P/E ratio of -2.45 and a beta of 0.93. The stock’s fifty day moving average price is C$0.17 and its two-hundred day moving average price is C$0.09.

Insiders Place Their Bets

In other East West Petroleum news, Director Kevin Haney bought 100,000 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was purchased at an average cost of C$0.50 per share, for a total transaction of C$50,000.00. Following the completion of the purchase, the director directly owned 1,400,000 shares of the company’s stock, valued at approximately C$700,000. This trade represents a 7.69% increase in their ownership of the stock. 2.47% of the stock is owned by insiders.

About East West Petroleum

East West Petroleum Corp., a junior oil and gas company, engages in the exploration, development, and production of oil and gas properties in New Zealand and Romania. It holds interest in a 30% interest in the Cheal-E site mining permit in the Taranaki Basin, New Zealand; and four exploration blocks covering an area of 1,007,500 acres in Pannonian Basin of western Romania.