Gear Energy (GXE) Trading 14.6% Higher

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Shares of Gear Energy Ltd (TSE:GXE) traded up 14.6% during mid-day trading on Thursday . The stock traded as high as C$1.20 and last traded at C$1.18. 673,168 shares traded hands during mid-day trading, an increase of 62% from the average session volume of 415,440 shares. The stock had previously closed at C$1.03.

Several analysts recently issued reports on the stock. Canaccord Genuity boosted their price objective on shares of Gear Energy from C$1.25 to C$1.50 in a report on Tuesday, July 10th. National Bank Financial restated an “outperform” rating and issued a C$2.00 price objective on shares of Gear Energy in a report on Thursday, August 9th.

In related news, insider Don Gray acquired 132,300 shares of Gear Energy stock in a transaction that occurred on Friday, May 25th. The shares were purchased at an average cost of C$1.07 per share, for a total transaction of C$141,561.00. Also, Director John O’connell sold 25,400 shares of the business’s stock in a transaction dated Wednesday, July 4th. The shares were sold at an average price of C$1.35, for a total transaction of C$34,290.00. Over the last 90 days, insiders purchased 141,910 shares of company stock worth $152,030 and sold 362,000 shares worth $487,579.

Gear Energy Company Profile (TSE:GXE)

Gear Energy Ltd. engages in acquiring, exploring, developing, and holding interests in petroleum and natural gas properties and assets in Canada. Its core heavy oil producing areas are located in East Central Alberta and West Central Saskatchewan; and light oil producing areas are located Central Alberta.

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