Orbit Garant Drilling (TSE:OGD) Stock Price Down 8.9% – Here’s Why

Orbit Garant Drilling Inc. (TSE:OGD)’s stock price was down 8.9% on Monday . The company traded as low as C$1.18 and last traded at C$1.23. Approximately 127,689 shares traded hands during trading, an increase of 140% from the average daily volume of 53,313 shares. The stock had previously closed at C$1.35.

Orbit Garant Drilling Stock Down 2.2%

The stock’s fifty day simple moving average is C$1.65 and its two-hundred day simple moving average is C$1.57. The company has a debt-to-equity ratio of 54.62, a current ratio of 2.58 and a quick ratio of 1.01. The company has a market capitalization of C$50.03 million, a price-to-earnings ratio of 6.60, a PEG ratio of 0.65 and a beta of 0.40.

Orbit Garant Drilling (TSE:OGD) last announced its quarterly earnings data on Wednesday, November 12th. The company reported C$0.01 earnings per share for the quarter. The business had revenue of C$46.67 million during the quarter. Orbit Garant Drilling had a net margin of 1.23% and a return on equity of 3.73%. On average, sell-side analysts predict that Orbit Garant Drilling Inc. will post 0.0400267 earnings per share for the current fiscal year.

Insider Activity at Orbit Garant Drilling

In other news, insider Sylvain Laroche sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of C$1.60, for a total transaction of C$40,000.00. Following the sale, the insider directly owned 212,571 shares in the company, valued at approximately C$340,113.60. This represents a 10.52% decrease in their position. Company insiders own 24.36% of the company’s stock.

About Orbit Garant Drilling

Orbit Garant Drilling Inc is a Canadian based drilling company providing services to mining companies through all stages of exploration, development, and production. The company operates a surface and underground diamond drilling business. The firm also manufactures conventional drill rigs while also manufacturing and providing other support equipment such as water recirculation systems, heat recovery systems, and fuel-efficient systems.