Insider Selling: Gear Energy Ltd. (TSE:GXE) Director Sells C$92,040.00 in Stock

Gear Energy Ltd. (TSE:GXE) Director Ingram Gillmore sold 118,000 shares of the firm’s stock in a transaction dated Friday, June 4th. The stock was sold at an average price of C$0.78, for a total value of C$92,040.00. Following the sale, the director now directly owns 1,537,300 shares of the company’s stock, valued at C$1,199,094.

TSE GXE opened at C$0.79 on Friday. The firm has a market cap of C$203.58 million and a P/E ratio of 6.12. The company has a debt-to-equity ratio of 45.50, a quick ratio of 0.47 and a current ratio of 0.90. The firm has a 50-day moving average price of C$0.63. Gear Energy Ltd. has a 1-year low of C$0.14 and a 1-year high of C$0.86.

Gear Energy (TSE:GXE) last announced its quarterly earnings data on Wednesday, May 5th. The company reported C($0.02) earnings per share (EPS) for the quarter. The firm had revenue of C$24.23 million during the quarter. On average, sell-side analysts anticipate that Gear Energy Ltd. will post 0.06 EPS for the current fiscal year.

Separately, Stifel Firstegy downgraded Gear Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 6th.

About Gear Energy

Gear Energy Ltd., an exploration and production company, acquires, develops, and holds interests in petroleum and natural gas properties and assets in Canada. Its oil-focused operations are located in three core areas, including Lloydminster heavy oil, Central Alberta light/medium oil, and Southeast Saskatchewan light oil.

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