Tree Island Steel (TSE:TSL) Share Price Crosses Below 200-Day Moving Average - Here's Why

Tree Island Steel Ltd. (TSE:TSL - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$2.88 and traded as low as C$2.81. Tree Island Steel shares last traded at C$2.81, with a volume of 7,380 shares.

The company has a debt-to-equity ratio of 21.28, a quick ratio of 1.75 and a current ratio of 5.14. The firm has a market cap of C$72.11 million, a price-to-earnings ratio of -28.88 and a beta of 0.96. The business's 50-day moving average is C$2.98 and its 200-day moving average is C$2.88.

Tree Island Steel Ltd. manufactures and sells steel wire and fabricated steel wire products in Canada, the United States, and internationally. It offers low-carbon and high-carbon galvanized steel wires; clean and bright wire for industrial and original equipment manufacturer customers; agricultural products, including fencing, barbed wire, galvanized wire, and bright wire, as well as other fabricated wire products specifically for farming, ranching, and vineyards; welded wire concrete reinforcing mesh and other fabricated wire products for heavy construction industry and infrastructure projects; and nails and stucco reinforcing products for residential and light commercial construction.

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