Shares of Cielo Waste Solutions Corp. (CVE:CMC) experienced a notable increase of 23.1% during mid-day trading on Saturday. The stock reached a high of C$0.09 before settling at C$0.08. This surge comes after the company closed the previous trading session at C$0.07.
Trading activity was robust, with approximately 159,908 shares exchanged, representing a significant 71% rise compared to the average daily volume of 93,562 shares. Cielo Waste Solutions currently holds a market capitalization of C$14.41 million. The company is characterized by a price-to-earnings ratio of -0.24 and a beta of -1.98.
The financial metrics also indicate a quick ratio of 9.95, a current ratio of 0.06, and a debt-to-equity ratio of 17.99. The stock’s 50-day moving average stands at C$0.11, while the 200-day moving average is reported at C$0.08.
Company Overview
Cielo Waste Solutions Corp. operates as a waste-to-fuel environmental technology firm in Canada. The company specializes in converting waste feedstocks, including organic materials and wood derivatives, into fuels such as diesel, naphtha, and kerosene. Established in 2011 and based in Calgary, Canada, the company was previously known as Cielo Gold Corp. before its name change in August 2013.
As the market continues to respond to the company’s innovative approach to waste management and renewable energy, investors are closely monitoring its performance. With such a substantial rise in share value, Cielo Waste Solutions is positioning itself as a notable player in the waste-to-fuel sector.
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