Pieridae Energy Limited’s Stock Crosses Above 50 Day Moving Average of $0.30
October 19, 2022
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Pieridae Energy Limited is a Calgary-based energy company. The company’s stock has crossed above the 50 day moving average of $0.30. Pieridae Energy is engaged in the development of natural gas projects in Canada and Germany. The company’s flagship project is the Goldboro LNG project, located in Nova Scotia.
Pieridae Energy is also developing the Bruderheim LNG project in Alberta. The company’s stock has been on a bit of a roller coaster ride over the past year, but has seen a slight uptick in recent months.
Stock Price
This marks an important technical milestone for the company, whose stock has been under pressure in recent months. Overall, media sentiment towards Pieridae Energy ($TSX:PEA) has been mostly positive, with many analysts citing the company’s strong fundamentals and promising future prospects. With the stock now trading above its 50 day moving average, it will be interesting to see if Pieridae Energy can continue to build momentum in the coming weeks and months.
VI Analysis
According to the VI app, company fundamentals reflect its long term potential. The app rates Pieridae Energy as strong in growth and profitability, and weak in asset and dividend. The app classifies Pieridae Energy as a “gorilla” company, one that has achieved stable and high revenue or earning growth due to its strong competitive advantage. Pieridae Energy is less likely to sustain future operations in times of crisis, due to its low health score of 2/10 with regard to cashflows and debt.
However, investors interested in growth and profitability may find the company appealing.
Summary
Investing in PIERIDAE ENERGY may be a good idea for investors who are looking for exposure to the oil and gas industry. The company has a strong balance sheet and is growing its production. It also has a large land position in Alberta, which gives it potential for future growth.
