Traverse Energy Ltd. (CVE:TVL) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as C$0.03 and last traded at C$0.04, with a volume of 2322350 shares changing hands. The stock had previously closed at C$0.04.
Separately, GMP Securities downgraded Traverse Energy from a “hold” rating to a “reduce” rating and reduced their price target for the company from C$0.10 to C$0.05 in a report on Friday, November 16th.
The firm has a market cap of $4.14 million and a PE ratio of -0.31. The company has a quick ratio of 0.07, a current ratio of 0.11 and a debt-to-equity ratio of 23.14.
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About Traverse Energy (CVE:TVL)
Traverse Energy Ltd. engages in the acquisition, exploration, development, and production of natural gas, oil, and natural gas liquids (NGL) in Canada. The company's principal properties include the Coyote, Michichi, Turin, Duvernay shale, and Watts located in the province of Alberta. As of December 31, 2017, its proved plus probable reserves included 5,626 million cubic feet of natural gas and 1,289.6 thousands of barrels of oil and NGL.
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