Block Energy (LON:BLOE) Trading Down 8.3% – Here’s Why

Shares of Block Energy Plc (LON:BLOE) were down 8.3% during mid-day trading on Wednesday . The stock traded as low as GBX 0.69 ($0.01) and last traded at GBX 0.69 ($0.01). Approximately 418,284 shares changed hands during trading, a decline of 75% from the average daily volume of 1,699,010 shares. The stock had previously closed at GBX 0.75 ($0.01).

Block Energy Stock Down 8.3 %

The stock has a market capitalization of £4.99 million, a P/E ratio of -1.19 and a beta of 0.27. The firm’s fifty day moving average is GBX 0.71 and its 200-day moving average is GBX 0.84. The company has a current ratio of 3.26, a quick ratio of 0.71 and a debt-to-equity ratio of 7.70.

About Block Energy

Block Energy is an AIM-listed independent oil and gas Company with current oil and gas production and material production and cashflow led growth opportunities from fields in Georgia.

Led by a management team with unrivalled experience in the Caucasus, Block’s aim is to deliver near and medium-term cashflows for reinvestment into medium and longer-term high impact opportunities, though a four-project strategy.