EcoSynthetix (TSE:ECO) Announces Quarterly Earnings Results

EcoSynthetix (TSE:ECO) released its earnings results on Tuesday. The company reported C($0.01) earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$6.45 million for the quarter. EcoSynthetix had a negative return on equity of 1.06% and a negative net margin of 1.98%.

EcoSynthetix Stock Performance

Shares of TSE ECO traded down C$0.08 during trading hours on Tuesday, hitting C$2.55. 36,996 shares of the company’s stock were exchanged, compared to its average volume of 26,386. EcoSynthetix has a 1-year low of C$2.52 and a 1-year high of C$5.02. The company has a debt-to-equity ratio of 5.38, a current ratio of 20.57 and a quick ratio of 12.67. The stock has a market capitalization of C$150.06 million, a price-to-earnings ratio of -255.00 and a beta of 0.74. The company’s 50-day moving average price is C$3.09 and its 200-day moving average price is C$3.42.

EcoSynthetix Company Profile

EcoSynthetix Inc is a renewable chemicals company. It is engaged in the development and commercialization of ecologically friendly bio-based technologies as replacement solutions for synthetic, petrochemical-based adhesives and other related products. The company operates in one reportable segment and generates revenue primarily from its biopolymer nanosphere technology platform. Its products include EcoSphere biolatex and DuraBindTM biopolymers. EcoSphere biolatex binders are used by manufacturers within the coated paper and paperboard industry, whereas the DuraBindTM is used in the production of wood composite panels.