Archer Exploration (ASX:AXE) Shares Down 11.2%

Archer Exploration Limited (ASX:AXE) shares fell 11.2% during mid-day trading on Wednesday . The company traded as low as A$0.42 ($0.29) and last traded at A$0.44 ($0.30), 3,978,752 shares traded hands during mid-day trading. An increase of 938% from the average session volume of 383,404 shares. The stock had previously closed at A$0.49 ($0.34).

The company has a market capitalization of $92.40 million and a P/E ratio of -33.46. The business has a 50-day moving average of A$0.44 and a 200-day moving average of A$0.25.

In other news, insider Alice McCleary sold 300,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of A$0.46 ($0.31), for a total transaction of A$137,700.00 ($94,315.07).

Archer Exploration Company Profile (ASX:AXE)

Archer Exploration Limited, together with its subsidiaries, engages in the discovery, development, and commercialization of mineral deposits in Australia. The company explores for graphite, cobalt, manganese, copper, magnesite, barite, and gold deposits. It is also involved in the sale of carbon material products through online.

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