Headwater Exploration (TSE:HWX) Hits New 52-Week Low - Time to Sell?

Shares of Headwater Exploration Inc. (TSE:HWX - Get Free Report) hit a new 52-week low during trading on Monday . The stock traded as low as C$6.11 and last traded at C$6.14, with a volume of 409518 shares traded. The stock had previously closed at C$6.36.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HWX. Atb Cap Markets upgraded shares of Headwater Exploration to a "strong-buy" rating in a research note on Tuesday, December 3rd. CIBC set a C$9.00 price target on shares of Headwater Exploration and gave the company an "outperform" rating in a research note on Thursday, January 30th. National Bankshares cut their price objective on shares of Headwater Exploration from C$9.50 to C$9.00 and set an "outperform" rating on the stock in a research report on Thursday, December 19th. Finally, Raymond James raised Headwater Exploration from a "market perform" rating to an "outperform" rating in a research report on Tuesday, January 7th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Headwater Exploration currently has an average rating of "Buy" and an average price target of C$9.54.

Headwater Exploration Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.54 and a quick ratio of 2.07. The business's fifty day moving average price is C$6.77 and its 200-day moving average price is C$6.73. The stock has a market capitalization of C$1.43 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 0.83 and a beta of 1.55.

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Insiders Place Their Bets

In other Headwater Exploration news, Director Phillip R. Knoll sold 5,400 shares of Headwater Exploration stock in a transaction on Thursday, January 16th. The shares were sold at an average price of C$6.97, for a total transaction of C$37,638.00. Corporate insiders own 5.08% of the company's stock.

About Headwater Exploration

Headwater Exploration Inc engages in the exploration, development, and production of petroleum and natural gas in Canada. It holds interest in the Marten Hills area located in Alberta, and McCully Field area located in New Brunswick. The company was formerly known as Corridor Resources Inc and changed its name to Headwater Exploration Inc in March 2020.