Block Energy (LON:BLOE) Stock Price Down 8.3% – Time to Sell?

Block Energy Plc (LON:BLOE) fell 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). 418,284 shares changed hands during trading, a decline of 75% from the average session volume of 1,699,010 shares. The stock had previously closed at GBX 0.75 ($0.01).

Block Energy Price Performance

The stock has a market cap of £6.31 million, a P/E ratio of -4.88 and a beta of 0.27. The company has a quick ratio of 0.71, a current ratio of 3.26 and a debt-to-equity ratio of 7.70. The business’s 50-day simple moving average is GBX 0.71 and its two-hundred day simple moving average is GBX 0.83.

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.