Tree Island Steel (TSE:TSL) Shares Pass Below 200-Day Moving Average – Here’s What Happened

Shares of Tree Island Steel Ltd. (TSE:TSL) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$2.70 and traded as low as C$2.56. Tree Island Steel shares last traded at C$2.61, with a volume of 2,468 shares traded.

Tree Island Steel Price Performance

The stock’s 50 day moving average price is C$2.77 and its 200-day moving average price is C$2.70. The company has a quick ratio of 1.75, a current ratio of 5.14 and a debt-to-equity ratio of 21.28. The stock has a market capitalization of C$67.62 million, a PE ratio of -12.43 and a beta of 0.03.

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.