Comet Industries (CVE:CMU) Trading Down 6.7% – What’s Next?

Comet Industries Ltd. (CVE:CMU) shares were down 6.7% during mid-day trading on Thursday . The company traded as low as C$5.60 and last traded at C$5.60. Approximately 2,600 shares were traded during trading, a decline of 34% from the average session volume of 3,942 shares. The stock had previously closed at C$6.00.

Comet Industries Stock Performance

The stock has a 50 day moving average of C$5.99 and a 200 day moving average of C$5.16. The company has a quick ratio of 6.63, a current ratio of 4.89 and a debt-to-equity ratio of 16.79. The company has a market capitalization of C$26.85 million, a price-to-earnings ratio of -43.08 and a beta of -0.32.

About Comet Industries

Comet Industries Ltd. holds and manages real estate properties in the British Columbia. It also acquires and develops mineral properties. The company holds a 40% working interest in the Iron Mask property located in southwest Kamloops, British Columbia. It also owns a 10% carried net profit interest in a contiguous block of mineral properties; and the surface land titles comprising the crown grants located in Kamloops, British Columbia. In addition, the company holds, and rents land and a commercial building located at the corner of Carrall and Powell Streets in the Gastown area of Vancouver, Canada.