Block Energy (LON:BLOE) Trading Up 10.3% – Time to Buy?

Block Energy Plc (LON:BLOE)’s stock price rose 10.3% during trading on Tuesday . The company traded as high as GBX 0.80 ($0.01) and last traded at GBX 0.80 ($0.01). Approximately 238,306 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,548,196 shares. The stock had previously closed at GBX 0.73 ($0.01).

Block Energy Stock Performance

The company has a 50 day simple moving average of GBX 0.71 and a 200-day simple moving average of GBX 0.83. 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 stock has a market cap of £7.04 million, a P/E ratio of -5.44 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.