Carmanah Technologies (TSE:CMH) Sets New 1-Year High at $7.33

Carmanah Technologies Corp (TSE:CMH) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$7.33 and last traded at C$7.31, with a volume of 27230 shares traded. The stock had previously closed at C$7.31.

CMH has been the subject of a number of research analyst reports. Cormark raised their price objective on shares of Carmanah Technologies from C$6.50 to C$7.00 in a report on Monday, April 1st. Canaccord Genuity downgraded shares of Carmanah Technologies from a “buy” rating to a “hold” rating and set a C$7.50 price objective for the company. in a report on Monday, April 1st.

The firm has a market cap of $133.61 million and a PE ratio of 3.24. The company has a current ratio of 12.25, a quick ratio of 11.85 and a debt-to-equity ratio of 0.64. The firm has a 50 day moving average price of C$7.20.

Carmanah Technologies (TSE:CMH) last posted its earnings results on Thursday, May 9th. The company reported C($0.04) earnings per share for the quarter. The firm had revenue of C$10.44 million for the quarter, compared to analysts’ expectations of C$10.64 million. As a group, analysts predict that Carmanah Technologies Corp will post 0.04 EPS for the current year.

In other news, insider Carmanah Technologies Corporation acquired 449,394 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was bought at an average cost of C$7.20 per share, for a total transaction of C$3,235,636.80. Following the completion of the transaction, the insider now owns 449,394 shares of the company’s stock, valued at C$3,235,636.80. Insiders bought 449,779 shares of company stock valued at $3,238,418 in the last quarter.

About Carmanah Technologies (TSE:CMH)

Carmanah Technologies Corporation designs, develops, and distributes products focused on energy optimized light LED solutions for infrastructure worldwide. It operates in Signals and Illumination segments. The Signals segment provides solar LED flashing beacons, including pedestrian crosswalk signals, school zone flashers, and 24-hr roadway beacons for various roadway applications; a range of marine lighting solutions to coast guards, marine authorities, navies, and ports; and LED aviation lighting solutions, such as approach lightings, apron lightings, and solar and hybrid power systems.

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