Torrent Capital (CVE:TORR) Stock Price Down 8.9% – Time to Sell?

Shares of Torrent Capital Ltd. (CVE:TORR) traded down 8.9% during trading on Wednesday . The company traded as low as C$0.51 and last traded at C$0.51. 2,100 shares were traded during trading, a decline of 85% from the average session volume of 13,857 shares. The stock had previously closed at C$0.56.

Torrent Capital Stock Down 8.9%

The stock’s fifty day simple moving average is C$0.58 and its 200-day simple moving average is C$0.60. The company has a market capitalization of C$19.43 million, a PE ratio of 2.22 and a beta of 0.09.

Insiders Place Their Bets

In other news, Director Wade K. Dawe acquired 61,500 shares of Torrent Capital stock in a transaction that occurred on Friday, January 9th. The stock was purchased at an average cost of C$0.56 per share, with a total value of C$34,440.00. Following the completion of the acquisition, the director owned 9,747,167 shares in the company, valued at C$5,458,413.52. This trade represents a 0.63% increase in their position. Over the last ninety days, insiders purchased 78,000 shares of company stock valued at $44,520. Company insiders own 60.95% of the company’s stock.

About Torrent Capital

Torrent Capital Ltd. operates as an investment company, primarily invests in the securities of public and private companies. It also focuses on the construction of port infrastructure; and provision of services and equity ownership in businesses that support aquaculture, renewable energy, and oil and gas sectors, as well as other port developments. The company was formerly known as Metallum Resources Inc and changed its name to Torrent Capital Ltd. in February 2017. Torrent Capital Ltd. is based in Halifax, Canada.