Block Energy (LON:BLOE) Stock Price Down 5.1% – Here’s What Happened

Block Energy Plc (LON:BLOE)’s share price was down 5.1% during mid-day trading on Monday . The stock traded as low as GBX 0.70 ($0.01) and last traded at GBX 0.75 ($0.01). Approximately 11,678,608 shares changed hands during trading, an increase of 370% from the average daily volume of 2,486,549 shares. The stock had previously closed at GBX 0.79 ($0.01).

Block Energy Stock Down 5.1 %

The company has a debt-to-equity ratio of 7.70, a current ratio of 3.26 and a quick ratio of 0.71. The firm has a 50 day simple moving average of GBX 0.75 and a 200-day simple moving average of GBX 0.88. The stock has a market capitalization of £5.44 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.