East West Petroleum (CVE:EW) Shares Up 28.6% – What’s Next?

East West Petroleum Corp. (CVE:EW)’s stock price was up 28.6% on Wednesday . The stock traded as high as C$0.05 and last traded at C$0.05. Approximately 262,427 shares changed hands during trading, an increase of 33% from the average daily volume of 197,152 shares. The stock had previously closed at C$0.04.

East West Petroleum Stock Performance

The firm’s fifty day simple moving average is C$0.04 and its 200 day simple moving average is C$0.05. The stock has a market capitalization of C$4.07 million, a price-to-earnings ratio of 2.25 and a beta of 1.62.

East West Petroleum Company Profile

East West Petroleum Corp., a junior oil and gas company, engages in the exploration, development, and production of oil and gas properties in New Zealand and Romania. It holds interest in a 30% interest in the Cheal-E site mining permit in the Taranaki Basin, New Zealand; and four exploration blocks covering an area of 1,007,500 acres in Pannonian Basin of western Romania.