NXT Energy Solutions (TSE:SFD) Share Price Passes Above 50-Day Moving Average – Here’s Why

Shares of NXT Energy Solutions Inc. (TSE:SFD) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$0.19 and traded as high as C$0.20. NXT Energy Solutions shares last traded at C$0.20, with a volume of 6,014 shares.

NXT Energy Solutions Trading Up 2.6 %

The company has a current ratio of 0.68, a quick ratio of 0.35 and a debt-to-equity ratio of 295.85. The business has a 50 day moving average of C$0.19 and a two-hundred day moving average of C$0.20. The firm has a market cap of C$15.67 million, a P/E ratio of -2.22 and a beta of 1.48.

Insider Activity

In other news, Director Jeffrey Tilson purchased 393,900 shares of NXT Energy Solutions stock in a transaction that occurred on Monday, January 27th. The stock was acquired at an average cost of C$0.34 per share, for a total transaction of C$133,926.00. Over the last ninety days, insiders have purchased 486,454 shares of company stock valued at $149,227 and have sold 240,500 shares valued at $57,952. Insiders own 39.71% of the company’s stock.

About NXT Energy Solutions

NXT Energy Solutions Inc, a technology company, provides services to the oil and gas industry through its proprietary stress field detection (SFD) technology worldwide. Its SFD technology, a remote sensing airborne survey system utilizes quantum-scale sensors to detect gravity field perturbations in an airborne survey method which can be used onshore and offshore to remotely identify traps and reservoirs with hydrocarbon and geothermal exploration potential.