Shares of Cielo Waste Solutions Corp. (CVE: CMC) experienced a significant rise, increasing by 23.1% during mid-day trading on Saturday. The stock peaked at C$0.09 before closing at C$0.08. This surge marked a notable uptick, with approximately 159,908 shares exchanged, reflecting a remarkable 71% increase from the average daily trading volume of 93,562 shares. The previous closing price for the stock was C$0.07.
Cielo Waste Solutions, which has a market capitalization of C$14.41 million, operates as a waste-to-fuel environmental technology firm in Canada. The company is focused on converting various waste feedstocks, including organic material and wood derivatives, into usable fuel such as diesel, naphtha, and kerosene.
Company Financials and Performance Metrics
The company reported a price-to-earnings ratio of -0.24 and a beta of -1.98, indicative of its volatility compared to the market. Cielo Waste Solutions also shows strong liquidity, with a quick ratio of 9.95, although its current ratio stands at a low 0.06. The debt-to-equity ratio is notably high at 17.99, suggesting that the company has a significant amount of debt in relation to its equity.
Additionally, the stock’s performance over time reveals a 50-day moving average of C$0.11 and a 200-day moving average of C$0.08. This data may provide investors with insights into the stock’s potential future performance.
Company Background and Recent Developments
Incorporated in 2011, Cielo Waste Solutions was originally known as Cielo Gold Corp. before rebranding in August 2013. The company is based in Calgary, Canada, and focuses on innovative solutions for waste management and fuel production, aiming to contribute to environmental sustainability.
Investors and market analysts are likely to keep a close watch on Cielo Waste Solutions in the coming weeks, especially given this recent surge in trading volume and share price. As the company continues to navigate the challenges and opportunities within the environmental technology sector, its performance will be a topic of interest for stakeholders in the renewable energy landscape.
For those interested in tracking developments related to Cielo Waste Solutions, a daily email summary of news and ratings is available through MarketBeat.com, providing concise updates on the company and its market performance.
