Tree Island Steel (TSE:TSL) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Tree Island Steel Ltd. (TSE:TSL) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$2.70 and traded as low as C$2.62. Tree Island Steel shares last traded at C$2.66, with a volume of 881 shares.

Tree Island Steel Stock Down 1.8%

The business’s fifty day simple moving average is C$2.73 and its two-hundred day simple moving average is C$2.70. The company has a market cap of C$68.92 million, a PE ratio of -12.67 and a beta of 0.03. The company has a debt-to-equity ratio of 21.28, a current ratio of 5.14 and a quick ratio of 1.75.

About Tree Island Steel

Tree Island Steel Ltd operates in the steel business. It is engaged in the manufacturing and sale of steel wire and related products for a range of applications. It offers products such as bulk nails, stucco reinforcing products, concrete reinforcing mesh, fencing, and other fabricated wire products. The firm groups its products into the following: Industrial, Commercial, Agricultural, Construction, and Residential Construction. Key revenue is derived from the Industrial segment. The products are offered under Tree Island, Halsteel, K-Lath, True spec, Toughstrand, and Stucco-rite brands.