Insider Buying: Gen III Oil Corp (CVE:GIII) Director Buys C$10,117.50 in Stock
Gen III Oil Corp (CVE:GIII) Director John Detmold purchased 35,500 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were acquired at an average price of C$0.29 per share, for a total transaction of C$10,117.50. Following the purchase, the director now directly owns 2,442,396 shares of the company’s stock, valued at approximately C$696,082.86.
Shares of GIII stock opened at C$0.28 on Wednesday. Gen III Oil Corp has a fifty-two week low of C$0.16 and a fifty-two week high of C$0.50. The firm has a market capitalization of $17.64 million and a price-to-earnings ratio of -2.57. The stock’s 50-day simple moving average is C$0.30 and its 200-day simple moving average is C$0.28.
Separately, Canaccord Genuity dropped their price target on Gen III Oil from C$1.20 to C$1.00 in a research note on Wednesday, June 12th.
Gen III Oil Corporation operates as an oil processing company in Canada. The company, through its ReGen technology, produces base lubricating oil from re-processed used motor oil. The company was formerly known as PNG Gold Corporation and changed its name to Gen III Oil Corporation in May 2017. Gen III Oil Corporation is headquartered in Vancouver, Canada.
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