DeepMarkit Corp. (CVE:MKT) experienced a significant surge in its share price, climbing by 31.1% during mid-day trading on Saturday. The stock reached a high of C$0.49 and ultimately closed at the same price. This marked a notable increase from its previous closing price of C$0.37, reflecting heightened investor interest.
Trading volume for DeepMarkit soared to approximately 307,224 shares, an increase of 277% compared to its average daily volume of 81,496 shares. Such a dramatic rise in trading activity often indicates strong market sentiment or positive developments regarding the company’s performance.
Financial Overview
DeepMarkit’s financial metrics demonstrate its current standing. The company has a market capitalization of C$28.30 million, with a price-to-earnings (PE) ratio of -24.25 and a beta of -0.64, indicating lower volatility compared to the market. The firm’s 50-day moving average stands at C$0.27, while its 200-day moving average is C$0.14.
In terms of liquidity, DeepMarkit has a quick ratio of 4.68 and a current ratio of 0.35. The debt-to-equity ratio is 0.82, suggesting a moderate level of debt relative to equity.
About DeepMarkit Corp.
Founded in 2007 and headquartered in Calgary, Canada, DeepMarkit Corp. specializes in game-based marketing software services. The company operates the DeepMarkit platform and MintCarbon.io, a web-based software-as-a-service platform that facilitates the minting of carbon credits into non-fungible tokens.
Previously known as Challenger Deep Resources Corp., the company rebranded to DeepMarkit Corp. in October 2015. This strategic shift highlights its commitment to evolving within the tech landscape, focusing on innovative solutions that cater to modern marketing needs.
As investors consider the recent stock performance, the question arises: is now the right time to buy? The significant increase in share price and trading volume may indicate growing confidence in DeepMarkit’s future prospects.
