Hemisphere Energy (CVE:HME) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Shares of Hemisphere Energy Co. (CVE:HME) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$1.80 and traded as high as C$1.93. Hemisphere Energy shares last traded at C$1.90, with a volume of 88,970 shares trading hands.

Analysts Set New Price Targets

Separately, Noble Financial upgraded shares of Hemisphere Energy to a “strong-buy” rating in a research report on Wednesday, July 17th.

Hemisphere Energy Price Performance

The business’s 50-day simple moving average is C$1.80 and its 200-day simple moving average is C$1.75. The stock has a market cap of C$186.69 million, a PE ratio of 6.55 and a beta of 1.96. The company has a quick ratio of 0.74, a current ratio of 3.98 and a debt-to-equity ratio of 4.35.

Hemisphere Energy (CVE:HME) last announced its quarterly earnings results on Tuesday, August 20th. The company reported C$0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$0.10. Hemisphere Energy had a net margin of 38.45% and a return on equity of 45.52%. The company had revenue of C$22.68 million for the quarter, compared to analysts’ expectations of C$26.84 million. On average, research analysts expect that Hemisphere Energy Co. will post 0.3500931 EPS for the current fiscal year.

Hemisphere Energy Company Profile

Hemisphere Energy Corporation acquires, explores, develops, and produces petroleum and natural gas interests in Canada. It primarily owns a 100% interest in the Atlee Buffalo property located in southeastern Alberta. The company was formerly known as Northern Hemisphere Development Corp. and changed its name to Hemisphere Energy Corporation in April 2009.