CGX Energy (CVE:OYL) Shares Down 32.3% – Here’s Why

CGX Energy Inc. (CVE:OYL)’s stock price was down 32.3% on Wednesday . The company traded as low as C$0.11 and last traded at C$0.11. Approximately 575,562 shares were traded during trading, an increase of 1,055% from the average daily volume of 49,825 shares. The stock had previously closed at C$0.16.

CGX Energy Price Performance

The company has a quick ratio of 0.10, a current ratio of 0.25 and a debt-to-equity ratio of 78.75. The firm’s fifty day moving average price is C$0.15 and its 200-day moving average price is C$0.17. The stock has a market cap of C$35.55 million, a P/E ratio of -10.50 and a beta of 1.33.

About CGX Energy

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.