Torrent Capital (CVE:TORR) Trading Down 1.9% – Here’s Why

Torrent Capital Ltd. (CVE:TORR) shares were down 1.9% on Friday . The company traded as low as C$0.52 and last traded at C$0.52. Approximately 16,666 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 17,579 shares. The stock had previously closed at C$0.53.

Torrent Capital Trading Down 1.9%

The company has a fifty day moving average price of C$0.56 and a two-hundred day moving average price of C$0.52. The firm has a market capitalization of C$19.85 million, a price-to-earnings ratio of 4.73 and a beta of -0.08.

Insider Activity

In related news, Director Wade K. Dawe purchased 72,500 shares of Torrent Capital stock in a transaction dated Friday, July 3rd. The shares were acquired at an average price of C$0.55 per share, for a total transaction of C$39,875.00. Following the acquisition, the director directly owned 9,986,167 shares in the company, valued at approximately C$5,492,391.85. The trade was a 0.73% increase in their ownership of the stock. Over the last three months, insiders acquired 100,000 shares of company stock valued at $55,000. 60.95% of the stock is owned by company insiders.

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.