Acceleware (CVE:AXE) Trading Down 11.8% – Here’s Why

Acceleware Ltd. (CVE:AXE)’s share price dropped 11.8% during trading on Thursday . The company traded as low as C$0.06 and last traded at C$0.08. Approximately 151,151 shares traded hands during trading, an increase of 486% from the average daily volume of 25,789 shares. The stock had previously closed at C$0.09.

Acceleware Stock Performance

The stock has a 50-day simple moving average of C$0.09 and a 200-day simple moving average of C$0.09. The company has a debt-to-equity ratio of -55.50, a current ratio of 0.01 and a quick ratio of 0.53. The stock has a market cap of C$10.73 million, a P/E ratio of -3.75 and a beta of 0.67.

About Acceleware

Acceleware Ltd. operates as an oil and gas technology company in Canada and the United States. The company operates through two segments, RF Heating and High-Performance Computing. It develops an enhanced heavy oil and oil sands production technology based on radio frequency (RF) heating; and develops and markets computational software products for the oil and gas, and other markets. The company's solutions include AxFDTD; AxHeat RF heating simulation software; AxRTM, a graphics processing unit accelerated Kirchhoff time migration solution; AxWAVE, a solution that allows customers to model seismic acquisition and perform data characterization; AxFWI, a revolutionary modular full waveform inversion application for providing subsurface velocity models.