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

Shares of East West Petroleum Corp. (CVE:EW) rose 28.6% during mid-day trading on Wednesday . The company traded as high as C$0.05 and last traded at C$0.05. Approximately 262,427 shares traded hands during mid-day 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 Up 28.6 %

The stock has a fifty day simple moving average of C$0.04 and a 200 day simple moving average of C$0.05. The firm has a market capitalization of C$4.07 million, a P/E ratio of 2.25 and a beta of 1.62.

About East West Petroleum

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.