Phoslock ENV Tec Limited (ASX:PET) shares traded up 7.9% during mid-day trading on Thursday . The stock traded as high as A$0.84 ($0.59) and last traded at A$0.82 ($0.58), 3,050,334 shares changed hands during mid-day trading. The stock had previously closed at A$0.76 ($0.54).
The firm has a 50-day moving average of A$0.94. The company has a debt-to-equity ratio of 2.84, a current ratio of 7.40 and a quick ratio of 6.62. The company has a market capitalization of $461.28 million and a price-to-earnings ratio of -273.33.
In other news, insider Laurence Freedman 344,203 shares of Phoslock ENV Tec stock in a transaction dated Monday, September 23rd. Also, insider Zhigang Zhang sold 5,859,515 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of A$1.34 ($0.95), for a total transaction of A$7,863,469.13 ($5,576,928.46).
Phoslock Environmental Technologies Limited provides water technologies and engineering solutions to manage nutrients and other water pollutants. It offers Phoslock, a lanthanum modified bentonite material that removes excess phosphate from water and reduces the growth of harmful algae; Zeolite, which improves water quality by absorbing nutrients, such as nitrogen; and Bacteria that breaks down contaminants and organic matter that pollute water and cause human and water borne diseases.
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