Block Energy (LON:BLOE) Trading Down 11.4% – Time to Sell?

Block Energy Plc (LON:BLOE) fell 11.4% during trading on Tuesday . The company traded as low as GBX 0.84 ($0.01) and last traded at GBX 0.84 ($0.01). 6,939,555 shares traded hands during trading, an increase of 335% from the average session volume of 1,595,967 shares. The stock had previously closed at GBX 0.95 ($0.01).

Block Energy Stock Down 11.4 %

The business’s 50 day moving average is GBX 0.86 and its 200 day moving average is GBX 0.80. 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 company has a market cap of £7.73 million, a P/E ratio of -5.97 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.