Headwater Exploration (TSE:HWX) Sets New 52-Week Low – Time to Sell?

Headwater Exploration Inc. (TSE:HWX) shares reached a new 52-week low during mid-day trading on Friday . The company traded as low as C$5.40 and last traded at C$5.42, with a volume of 238438 shares. The stock had previously closed at C$5.97.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Desjardins lowered Headwater Exploration from a “buy” rating to a “hold” rating and cut their target price for the stock from C$8.25 to C$7.25 in a research note on Wednesday, March 19th. CIBC set a C$9.00 price objective on Headwater Exploration and gave the company an “outperform” rating in a research report on Thursday, January 30th. National Bankshares decreased their target price on shares of Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Finally, Raymond James raised shares of Headwater Exploration from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Headwater Exploration currently has a consensus rating of “Buy” and a consensus price target of C$9.05.

Headwater Exploration Trading Down 11.9 %

The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.07 and a current ratio of 1.54. The stock’s 50-day simple moving average is C$6.44 and its 200-day simple moving average is C$6.66. The firm has a market capitalization of C$1.25 billion, a PE ratio of 6.74, a P/E/G ratio of 0.83 and a beta of 1.55.

Insiders Place Their Bets

In related news, Director Phillip R. Knoll sold 5,400 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of C$6.97, for a total value of C$37,638.00. 5.08% of the stock is currently owned by company insiders.

Headwater Exploration Company Profile

Headwater Exploration Inc engages in the exploration, development, and production of petroleum and natural gas in Canada. It holds interest in the Marten Hills area located in Alberta, and McCully Field area located in New Brunswick. The company was formerly known as Corridor Resources Inc and changed its name to Headwater Exploration Inc in March 2020.