Rubellite Energy (TSE:RBY) Stock Price Down 5% – Here’s Why

Rubellite Energy Inc. (TSE:RBY) shares fell 5% during trading on Tuesday. The stock traded as low as C$4.38 and last traded at C$4.39. Approximately 52,528 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 117,469 shares. The stock had previously closed at C$4.62.

Rubellite Energy Stock Performance

The stock has a 50 day moving average of C$4.37 and a two-hundred day moving average of C$3.58. The stock has a market capitalization of C$418.04 million, a PE ratio of 16.48 and a beta of -0.74. The company has a debt-to-equity ratio of 33.54, a current ratio of 0.43 and a quick ratio of 1.21.

Rubellite Energy (TSE:RBY) last released its quarterly earnings data on Monday, August 10th. The company reported C$0.35 earnings per share (EPS) for the quarter. Rubellite Energy had a return on equity of 7.79% and a net margin of 11.09%. The firm had revenue of C$95.38 million during the quarter.

Insider Activity

In related news, insider Jeff Green sold 73,664 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of C$4.40, for a total value of C$324,121.60. Following the completion of the sale, the insider owned 105,502 shares in the company, valued at C$464,208.80. This trade represents a 41.11% decrease in their ownership of the stock. In the last ninety days, insiders have sold 130,000 shares of company stock valued at $572,000. Company insiders own 34.83% of the company’s stock.

About Rubellite Energy

Rubellite Energy Inc is a Canadian energy company. It is focused on Clearwater oil exploration and development utilizing multi-lateral horizontal drilling technology. The Clearwater is a high rate of return play with compelling economics at current forward market prices for Western Canadian Select crude oil.