Emerald Bay Energy (CVE:EBY) Trading 50% Higher

Emerald Bay Energy Inc. (CVE:EBY)’s share price traded up 50% during mid-day trading on Monday . The company traded as high as C$0.02 and last traded at C$0.02, 824,200 shares changed hands during mid-day trading. An increase of 29% from the average session volume of 636,866 shares. The stock had previously closed at C$0.01.

The stock has a 50 day moving average of C$0.01 and a 200-day moving average of C$0.02. The firm has a market capitalization of $3.54 million and a P/E ratio of -0.83.

In other news, Senior Officer Michael Rice acquired 4,940,000 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were acquired at an average cost of C$0.02 per share, for a total transaction of C$74,100.00. Following the purchase, the insider now owns 8,495,500 shares of the company’s stock, valued at approximately C$127,432.50. Insiders purchased a total of 5,335,000 shares of company stock worth $79,025 over the last 90 days.

About Emerald Bay Energy (CVE:EBY)

Emerald Bay Energy Inc operates as an energy company with oil producing properties in Southwest Texas, as well as non-operated oil and natural gas interests in Central Alberta, Canada. It owns 50% working interests in the Wooden Horse and Nash Creek projects in Guadeloupe, Texas. The company also owns and operates various working interests in the HugoCellR, Cotulla, and MarPat partnerships.

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