Orcadian Energy (LON:ORCA) Stock Price Down 10.5% – What’s Next?

Orcadian Energy Plc (LON:ORCA) traded down 10.5% during trading on Wednesday . The stock traded as low as GBX 17 and last traded at GBX 17. 196,383 shares changed hands during mid-day trading, a decline of 6% from the average session volume of 210,008 shares. The stock had previously closed at GBX 19.

Orcadian Energy Price Performance

The company has a debt-to-equity ratio of 47.53, a current ratio of 0.10 and a quick ratio of 3.06. The company’s 50-day simple moving average is GBX 15.40 and its 200-day simple moving average is GBX 12.26. The stock has a market capitalization of £13.27 million, a P/E ratio of -15.00 and a beta of -2.29.

Orcadian Energy (LON:ORCA) last announced its quarterly earnings data on Friday, January 2nd. The company reported GBX (1.12) EPS for the quarter. Orcadian Energy had a negative net margin of 925.42% and a negative return on equity of 49.59%.

About Orcadian Energy

Orcadian’s strategy is to secure discovered resources at low cost and to transform those resources into reserves and onto production

The Pilot field is our key asset. The field is well appraised and ready for development, Orcadian has selected, as the very best development concept, a low salinity polymer flood with two wellhead platforms, a dedicated FPSO, and a floating wind turbine.

Pilot is very well appraised with high quality modern 3D seismic and seven reservoir penetrations. The field has 79mmbbls of proven plus probable reserves, based upon the low salinity polymer flood development plan described in the concept select report submitted to the OGA in September of 2020.