East West Petroleum (CVE:EW) Trading Down 10.6% – Time to Sell?

Shares of East West Petroleum Corp. (CVE:EW) dropped 10.6% during trading on Friday . The stock traded as low as C$0.21 and last traded at C$0.21. Approximately 5,741 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 14,616 shares. The stock had previously closed at C$0.24.

East West Petroleum Trading Down 10.6%

The stock has a market capitalization of C$1.90 million, a price-to-earnings ratio of -5.25 and a beta of 0.80. The firm’s fifty day moving average price is C$0.23 and its 200 day moving average price is C$0.11.

Insider Activity at East West Petroleum

In other news, Director Kevin Haney purchased 100,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was acquired at an average cost of C$0.50 per share, for a total transaction of C$50,000.00. Following the completion of the transaction, the director directly owned 1,400,000 shares in the company, valued at approximately C$700,000. This represents a 7.69% increase in their position. 2.47% of the stock is currently owned by corporate insiders.

East West Petroleum Company Profile

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.