EcoSynthetix (TSE:ECO) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

EcoSynthetix Inc. (TSE:ECO)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$4.49 and traded as high as C$4.72. EcoSynthetix shares last traded at C$4.72, with a volume of 3,900 shares changing hands.

EcoSynthetix Price Performance

The firm has a market cap of C$277.49 million, a PE ratio of -94.40 and a beta of 0.87. The stock has a 50 day simple moving average of C$4.18 and a two-hundred day simple moving average of C$4.49. The company has a debt-to-equity ratio of 1.04, a quick ratio of 12.67 and a current ratio of 20.06.

EcoSynthetix (TSE:ECO) last posted its earnings results on Tuesday, July 30th. The company reported C($0.02) earnings per share for the quarter. The firm had revenue of C$4.36 million for the quarter. EcoSynthetix had a negative net margin of 14.85% and a negative return on equity of 5.25%. Sell-side analysts expect that EcoSynthetix Inc. will post 0.18 earnings per share for the current year.

EcoSynthetix Company Profile

EcoSynthetix Inc, a renewable chemicals company, develops and commercializes bio-based technologies that are used as replacement solutions for synthetic, petrochemical-based adhesives, and other related products worldwide. The company offers EcoMer biomonomer for use in pressure sensitive adhesives, ink, toner resins, and paints; EcoSphere biolatex, a bio-based latex binder used in paper and paperboard industry; EcoStix, a family of sugar-acrylic and pressure-sensitive adhesives, which include customizable resin grades and formulated grades; and DuraBind engineered biopolymers that enable manufacturers of particle board, MDF, and OSB to decrease the amount of highly regulated chemicals, such as formaldehyde in their formulation.