Kendrick Resources (LON:KEN) Shares Down 15.1% – Here’s Why

Kendrick Resources PLC (LON:KEN)’s stock price fell 15.1% during trading on Tuesday . The stock traded as low as GBX 2.12 and last traded at GBX 2.12. 759,389 shares were traded during trading, a decline of 90% from the average session volume of 7,683,282 shares. The stock had previously closed at GBX 2.50.

Kendrick Resources Stock Up 3.3%

The firm’s 50 day simple moving average is GBX 0.96 and its 200-day simple moving average is GBX 0.53. The company has a market cap of £7.27 million, a price-to-earnings ratio of -1.84 and a beta of -1.19. The company has a debt-to-equity ratio of 19.10, a current ratio of 0.07 and a quick ratio of 16.01.

Insider Transactions at Kendrick Resources

In other news, insider Colin Bird purchased 6,400,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was purchased at an average cost of GBX 2 per share, with a total value of £128,000. Also, insider Kjeld Thygesen acquired 1,837,500 shares of the stock in a transaction on Tuesday, February 24th. The stock was acquired at an average cost of GBX 2 per share, for a total transaction of £36,750. Insiders bought a total of 14,422,330 shares of company stock worth $26,358,530 over the last quarter. 20.98% of the stock is currently owned by corporate insiders.

About Kendrick Resources

Kendrick Resources PLC engages in the engages in the exploitation and development of mineral resources. It explores for nickel, cobalt, copper, and vanadium. The company's projects include the Airijoki Vanadium project in Sweden; the Central Sweden projects covering a combined area of 197.2 square kilometers in Sweden; the Koitelainen Vosa Vanadium Project comprising a single granted exploration permit covering 13.72 square kilometers located in Finland; and the Karhujupukka Vanadium and Nickel project that comprises two granted exploration permits covering a combined area of 6.5 square kilometers in Finland.