Petrel Resources (LON:PET) Stock Price Down 7.5% – Should You Sell?

Petrel Resources Plc (LON:PET)’s share price dropped 7.5% during mid-day trading on Tuesday . The stock traded as low as GBX 1.11 ($0.01) and last traded at GBX 1.11 ($0.01). Approximately 105,000 shares were traded during trading, a decline of 58% from the average daily volume of 250,978 shares. The stock had previously closed at GBX 1.20 ($0.02).

Petrel Resources Trading Down 7.1 %

The company has a market capitalization of £2.05 million, a price-to-earnings ratio of -7.17 and a beta of 0.57. The company’s 50 day simple moving average is GBX 1.15 and its 200-day simple moving average is GBX 0.95.

About Petrel Resources

Petrel Resources Plc, together with its subsidiaries, operates as an oil and gas exploration company. The company holds a 100% interest in the Frontier exploration license 3/14 located in Ireland. It also holds a 30% working interest in the Tano 2A Block covering an area of 1,532 square kilometers in Ghana; and holds interest in the Western Desert Block 6 located in Iraq.