Ecosynthetix (TSE:ECO) Shares Pass Above 200 Day Moving Average of $2.52

Shares of Ecosynthetix Inc (TSE:ECO) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.52 and traded as high as $2.99. Ecosynthetix shares last traded at $2.98, with a volume of 6,153 shares traded.

Separately, Canaccord Genuity increased their price objective on shares of Ecosynthetix from C$2.50 to C$4.00 in a research report on Friday, August 2nd.

The company has a market cap of $174.32 million and a P/E ratio of -141.90. The stock’s 50-day moving average price is C$3.22 and its 200-day moving average price is C$2.52. The company has a current ratio of 30.53, a quick ratio of 28.84 and a debt-to-equity ratio of 2.74.

About Ecosynthetix (TSE:ECO)

EcoSynthetix Inc, a renewable chemicals company, develops and commercializes bio-based technologies that are used as replacement solutions for synthetic, petrochemical-based adhesives, and other related products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers EcoMer biomonomer for use in pressure sensitive adhesives, ink, toner resins, and paints; EcoSphere biolatex used as coating binder for paper and paperboard; EcoStix, a family of pressure-sensitive adhesives, which include customizable resin grades and formulated grades; and DuraBind engineered biopolymers enable manufacturers of particle board, MDF, veneers, and laminates to decrease the amount of highly regulated chemicals, such as formaldehyde in their formulation.

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