TAG Oil Ltd. (CVE:TAO – Get Free Report)’s share price shot up 14.3% during trading on Thursday. The stock traded as high as C$0.04 and last traded at C$0.04. 228,354 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 651,064 shares. The stock had previously closed at C$0.04.
TAG Oil Stock Up 14.3%
The business has a 50 day simple moving average of C$0.07 and a two-hundred day simple moving average of C$0.08. The firm has a market cap of C$13.69 million, a PE ratio of -4.00 and a beta of -0.54.
Insider Activity at TAG Oil
In related news, Director Abdel Fattah Badwi purchased 1,095,000 shares of the business’s stock in a transaction dated Thursday, October 22nd. The shares were purchased at an average cost of C$0.05 per share, for a total transaction of C$54,750.00. Following the completion of the acquisition, the director owned 15,010,000 shares in the company, valued at approximately C$750,500. This trade represents a 7.87% increase in their position. Insiders own 8.15% of the company’s stock.
TAG Oil Company Profile
TAG Oil Ltd., together with its subsidiaries, engages in the exploration, development, and production of oil and gas in Canada, the Middle East, and North Africa. The company was formerly known as Durum Cons. Energy Corp. and changed its name to TAG Oil Ltd. in June 2002. The company was incorporated in 1990 and is headquartered in Vancouver, Canada.
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