Granite Oil Corp (OTCMKTS:GXOCF)’s share price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $0.51 and traded as low as $0.49. Granite Oil shares last traded at $0.49, with a volume of 7,555 shares traded.
Separately, Raymond James reissued a “buy” rating on shares of Granite Oil in a report on Friday, May 10th.
The firm has a fifty day simple moving average of $0.51.
Granite Oil Corp. engages in the exploration for, exploitation, development, and production of oil and natural gas in Canada. The company holds a 98% working interest in the Alberta Bakken properties covering 56,409 net undeveloped acres and 72,652 net developed acres with 68.0 net oil wells and 83.0 net gas wells located in southern Alberta.
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