Tree Island Steel (TSE:TSL) Shares Cross Above 50-Day Moving Average – Here’s Why

Tree Island Steel Ltd. (TSE:TSL) shares passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$2.93 and traded as high as C$3.07. Tree Island Steel shares last traded at C$3.05, with a volume of 9,700 shares traded.

Tree Island Steel Price Performance

The stock has a market capitalization of C$79.76 million, a P/E ratio of 61.00 and a beta of 0.96. The company has a current ratio of 5.39, a quick ratio of 1.75 and a debt-to-equity ratio of 21.10. The company has a fifty day simple moving average of C$2.93 and a two-hundred day simple moving average of C$2.86.

About Tree Island Steel

Tree Island Steel Ltd. manufactures and sells steel wire and fabricated steel wire products in Canada, the United States, and internationally. It offers low-carbon and high-carbon galvanized steel wires; clean and bright wire for industrial and original equipment manufacturer customers; agricultural products, including fencing, barbed wire, galvanized wire, and bright wire, as well as other fabricated wire products specifically for farming, ranching, and vineyards; welded wire concrete reinforcing mesh and other fabricated wire products for heavy construction industry and infrastructure projects; and nails and stucco reinforcing products for residential and light commercial construction.