The stock of Comet Industries Ltd (CVE:CMU) hit a new 52-week high and has $5.50 target or 100.00% above today’s $2.75 share price. The 5 months bullish chart indicates low risk for the $12.13 million company. The 1-year high was reported on Sep, 14 by Barchart.com. If the $5.50 price target is reached, the company will be worth $12.13 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 3.77% or $0.1 on September 13, hitting $2.75. About 25,500 shares traded hands or 10659.49% up from the average. Comet Industries Ltd (CVE:CMU) has risen 6.00% since August 15, 2016 and is uptrending. It has underperformed by 10.49% the S&P500.
Comet Industries Ltd. is an exploration-stage company. The company has a market cap of $12.13 million. The Firm is engaged in the business of acquiring, holding mineral properties, and holding and managing real properties, all in British Columbia. It has a 68.75 P/E ratio. The Company’s divisions include rental, exploration and general/administration.
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