Shares of Cielo Waste Solutions Corp. (CVE:CMC) experienced a notable rise of 23.1% during mid-day trading on Saturday, reaching a peak of C$0.09 before settling at C$0.08. The trading volume saw a significant increase, with approximately 159,908 shares exchanged, marking a 71% uptick from the average daily volume of 93,562 shares. This surge follows a previous closing price of C$0.07.
Cielo Waste Solutions, based in Calgary, Canada, has a market capitalization of C$14.41 million. The company’s financial indicators include a price-to-earnings ratio of -0.24 and a beta of -1.98, which reflects its volatility in the market. Cielo’s quick ratio stands at 9.95, while its current ratio is 0.06, accompanied by a high debt-to-equity ratio of 17.99. The stock’s 50-day moving average is recorded at C$0.11, with a 200-day moving average of C$0.08.
Company Overview and Operations
Founded in 2011, Cielo Waste Solutions operates as a waste-to-fuel environmental technology company. The firm specializes in converting waste feedstocks, which include organic material and wood derivative waste, into valuable fuels such as diesel, naphtha, and kerosene. The company was formerly known as Cielo Gold Corp. before rebranding to Cielo Waste Solutions Corp. in August 2013.
Cielo’s innovative approach to waste management emphasizes sustainability and environmental responsibility, positioning the company as a significant player in the emerging waste-to-energy sector. As demand for alternative fuel sources continues to grow, Cielo’s operations may play a crucial role in both energy production and waste reduction efforts.
Investors and stakeholders will be closely monitoring Cielo Waste Solutions as market activity remains dynamic and the company continues to navigate the evolving landscape of the environmental technology sector.
