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

Block Energy Plc (LON:BLOE)’s stock price dropped 8.3% during 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 were traded 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 Performance

The firm’s 50-day moving average price is GBX 0.71 and its 200 day moving average price is GBX 0.84. The company has a debt-to-equity ratio of 7.70, a quick ratio of 0.71 and a current ratio of 3.26. The company has a market cap of £4.99 million, a price-to-earnings ratio of -1.19 and a beta of 0.27.

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.