Tower Resources (LON:TRP) Shares Cross Below 200-Day Moving Average – Here’s Why

Tower Resources plc (LON:TRP)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 0.03 ($0.00) and traded as low as GBX 0.03 ($0.00). Tower Resources shares last traded at GBX 0.03 ($0.00), with a volume of 55,501,023 shares trading hands.

Tower Resources Stock Up 3.2%

The firm’s 50 day simple moving average is GBX 0.03 and its 200 day simple moving average is GBX 0.03. The company has a market cap of £5.75 million, a price-to-earnings ratio of -2.65 and a beta of 1.12. The company has a quick ratio of 0.06, a current ratio of 0.21 and a debt-to-equity ratio of 0.07.

Tower Resources Company Profile

Tower Resources is an African-focused energy company advancing its operation in Cameroon towards production and cash flow, and de-risking attractive exploration licenses in the emerging oil and gas provinces of Namibia and South Africa, where world-class discoveries have recently been made.

The Company’s strategy is to build a balanced portfolio of energy opportunities in Africa across the exploration and production cycle in oil and gas and beyond, in stable jurisdictions that the Company knows well and that offer excellent fiscal terms.