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

Tree Island Steel Ltd. (TSE:TSL)’s share price crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of C$2.41 and traded as low as C$2.34. Tree Island Steel shares last traded at C$2.34, with a volume of 800 shares traded.

Tree Island Steel Stock Performance

The company has a debt-to-equity ratio of 28.61, a current ratio of 2.95 and a quick ratio of 1.75. The company has a market cap of C$60.48 million, a price-to-earnings ratio of -8.67 and a beta of 0.50. The firm has a 50 day simple moving average of C$2.48 and a 200-day simple moving average of C$2.41.

Tree Island Steel (TSE:TSL) last announced its quarterly earnings results on Thursday, August 13th. The company reported C($0.01) EPS for the quarter. The business had revenue of C$48.55 million during the quarter. Tree Island Steel had a negative net margin of 4.34% and a negative return on equity of 6.25%. As a group, analysts predict that Tree Island Steel Ltd. will post 0.41 EPS for the current fiscal year.

Tree Island Steel Company Profile

Tree Island Steel, headquartered in Richmond, British Columbia, since 1964, through its operating facilities in Canada and the United States, produces wire products for a diverse range of industrial, residential construction, commercial construction and agricultural applications. Its products include galvanized wire, bright wire; a broad array of fasteners, including packaged, collated and bulk nails; stucco reinforcing products; concrete reinforcing mesh; fencing and other fabricated wire products.