Rubellite Energy (TSE:RBY) Hits New 1-Year High – Still a Buy?

Rubellite Energy Inc. (TSE:RBY)’s share price reached a new 52-week high on Friday . The stock traded as high as C$3.70 and last traded at C$3.60, with a volume of 89375 shares changing hands. The stock had previously closed at C$3.52.

Rubellite Energy Price Performance

The company has a current ratio of 0.38, a quick ratio of 1.21 and a debt-to-equity ratio of 40.97. The company’s fifty day moving average is C$3.23 and its two-hundred day moving average is C$2.74. The stock has a market cap of C$336.31 million, a price-to-earnings ratio of 10.56 and a beta of -0.36.

Rubellite Energy (TSE:RBY) last posted its earnings results on Monday, May 11th. The company reported C($0.25) earnings per share for the quarter. Rubellite Energy had a net margin of 3.70% and a return on equity of 2.51%. The company had revenue of C$22.92 million during the quarter.

Insiders Place Their Bets

In related news, Director Ryan Shay sold 33,528 shares of Rubellite Energy stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of C$3.25, for a total value of C$108,966.00. Following the completion of the sale, the director owned 525,660 shares in the company, valued at approximately C$1,708,395. This trade represents a 6.00% decrease in their position. 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.