Thermal Energy International (CVE:TMG) Shares Down 23.4% – Here’s Why

Shares of Thermal Energy International Inc. (CVE:TMG) were down 23.4% on Tuesday . The stock traded as low as C$0.18 and last traded at C$0.18. Approximately 366,576 shares traded hands during mid-day trading, an increase of 300% from the average daily volume of 91,620 shares. The stock had previously closed at C$0.24.

Thermal Energy International Stock Performance

The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 113.80. The firm has a 50-day simple moving average of C$0.20 and a two-hundred day simple moving average of C$0.21. The company has a market capitalization of C$26.77 million, a price-to-earnings ratio of 22.00 and a beta of 0.38.

About Thermal Energy International

Thermal Energy International Inc engages in the development, engineering, and supply of pollution control products, heat recovery systems, and condensate return solutions in North America, Europe, and internationally. Its products include GEM steam traps; FLUACE, a direct contact condensing heat recovery system that recycles the heat lost through the boiler flue gas exhaust; DRY-REX, a low temperature biomass dryer; boiler feedwater economizer; vent condenser; boiler blowdown heat recovery; Heat Recovery Steam Generator; indirect contact condensing heat recovery; air to air heat exchange; and sofame products.