CGX Energy (CVE:OYL) Shares Down 32.3% – What’s Next?

CGX Energy Inc. (CVE:OYL) shares fell 32.3% during mid-day trading on Wednesday . The stock traded as low as C$0.11 and last traded at C$0.11. 575,562 shares were traded during trading, an increase of 1,055% from the average session volume of 49,825 shares. The stock had previously closed at C$0.16.

CGX Energy Stock Down 32.3 %

The business has a 50-day moving average price of C$0.15 and a 200 day moving average price of C$0.17. The company has a current ratio of 0.25, a quick ratio of 0.10 and a debt-to-equity ratio of 78.75. The stock has a market capitalization of C$35.55 million, a P/E ratio of -10.50 and a beta of 1.33.

CGX Energy Company Profile

CGX Energy Inc, an oil and gas exploration company, explores for and evaluates petroleum and natural gas properties in Guyana, South America. It holds interests in a petroleum prospecting licenses and related petroleum agreements on Corentyne block in the Guyana Basin, offshore Guyana. The company also constructs and develops the Berbice Deep Water Port project in Guyana.