With an advance of 6.67%, Lonestar West Inc. (CDX:LSI:CA) was one of the best performing basic material stocks listed on the TSX Venture on February 16. After closing the previous session at $0.45, shares of LSI:CA opened this morning at $0.48 and closed the day at $0.48. Throughout the day, about 20,200 shares changed hands, compared to an average 30-day volume of 29,415 for Lonestar West Inc.. Shares moved as high as $0.48 and as low as $0.48 in today’s trading action.
The share appreciation gives the company a market capitalization of $13.26 million based upon 29.46 million shares outstanding.
In the past 52 weeks, shares of Lonestar West Inc. have traded as low as $0.23 and as high as $0.6. Technical traders will take note that at $0.48, shares of LSI:CA are trading above their 50-day moving average (MA) at $0.411 and above their 200-day MA at above $0.43. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move above them or holding over them is typically regarded as bullish.
Who is $Lonestar W?
Lonestar West Inc provides the technical application of vacuum and hydro-vacuum services to infrastructure and oil and gas customers. The company is led by its CEO James P. Horvath from its headquarters at Site 5, RR No 1.
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About the TSX Venture Exchange
Owned and operated by the TMX Group, the TSX Venture Exchange is a public venture capital marketplace for emerging companies. It is headquartered in Calgary, Alberta, Canada with offices in Toronto, Vancouver and Montreal. All trading on the exchange is done electronically. Originally established in 1999, the “Venture,” as it is often shortened, was previously known as the Canadian Venture Exchange, but renamed in 2001 subsequent to the TSX Group (now known as the TMX Group) purchasing it.
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