Rubellite Energy (TSE:RBY) Sets New 52-Week Low – Here’s Why

Rubellite Energy Inc. (TSE:RBY) shares hit a new 52-week low during trading on Thursday . The stock traded as low as C$1.90 and last traded at C$1.95, with a volume of 23025 shares changing hands. The stock had previously closed at C$1.96.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RBY shares. BMO Capital Markets reduced their target price on Rubellite Energy from C$4.00 to C$3.00 in a research report on Friday. Cormark raised shares of Rubellite Energy to a “moderate buy” rating in a report on Tuesday, November 5th. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$3.28.

Rubellite Energy Price Performance

The company has a current ratio of 0.42, a quick ratio of 1.21 and a debt-to-equity ratio of 14.82. The firm’s fifty day moving average price is C$2.13 and its 200 day moving average price is C$2.26. The firm has a market capitalization of C$130.45 million, a PE ratio of 5.68 and a beta of 1.05.

About Rubellite Energy

Rubellite Energy Inc, an energy company, engages in the exploration, development, and production of heavy crude oil from the Clearwater Formation in Eastern Alberta. The company operates in the Figure Lake area located in southwest of Lac La Biche, Alberta; the Marten Hills area is located in the northeast of Slave Lake; and the Ukalta area is located in the northeast of Edmonton, Alberta.