Cypress Development (CVE:CYP) Shares Cross Below 50 Day Moving Average – Here’s Why

Shares of Cypress Development Corp. (CVE:CYP) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$1.09 and traded as low as C$1.06. Cypress Development shares last traded at C$1.09, with a volume of 33,605 shares changing hands.

Cypress Development Stock Performance

The stock’s fifty day moving average price is C$1.09 and its 200-day moving average price is C$1.09. The company has a market capitalization of C$35.88 million and a P/E ratio of -10.75. The company has a debt-to-equity ratio of 2.83, a quick ratio of 42.15 and a current ratio of 41.79.

About Cypress Development

Cypress Development Corp. engages in the acquisition, exploration, evaluation, and development of mineral properties in the United States and Canada. It explores for lithium, zinc, and silver deposits. The company's flagship project is the Clayton Valley project that covers an area of approximately 5,430 acres located in southwest Nevada. Cypress Development Corp. was incorporated in 1991 and is headquartered in Vancouver, Canada.